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Last Update: ،
2024/12/26
Time
10:37:34
Latest News:
Council of Ministers approves gov't's economic plan for urgent priorities
Leadership Council Chairman meets heads of Cabinet and Supreme Judiciary Council
President al-Alimi appoints new judges in Supreme Court
Al-Aradah discusses humanitarian, developmental Updates with Kuwaiti Ambassador
FM meets UN Deputy Humanitarian Coordinator
Latest News:
Council of Ministers approves gov't's economic plan for urgent priorities
Leadership Council Chairman meets heads of Cabinet and Supreme Judiciary Council
President al-Alimi appoints new judges in Supreme Court
Al-Aradah discusses humanitarian, developmental Updates with Kuwaiti Ambassador
FM meets UN Deputy Humanitarian Coordinator
Central bank begins affording foreign exchange to oil importers
[28/09/2020 02:49]
ADEN-SABA
The central bank in the temporary capital Aden today began facilitating access to foreign exchange for importers of petroleum products as part of new regulations to limit illegal speculation with the Riyal currency.
In a statement, the bank it began affording the exchange to “the first batch of petroleum products importers as per the mechanism the bank has recently adopted at a preferential exchange rate.” Importers, under the mechanism, are required to deposit their proceedings in commercial banks in Yemeni Riyal to be next transferred to the central bank, with a view to limiting illegal currency speculation and achieve a stability in exchange rate.
The central bank in the temporary capital Aden today began facilitating access to foreign exchange for importers of petroleum products as part of new regulations to limit illegal speculation with the Riyal currency.
In a statement, the bank it began affording the exchange to “the first batch of petroleum products importers as per the mechanism the bank has recently adopted at a preferential exchange rate.” Importers, under the mechanism, are required to deposit their proceedings in commercial banks in Yemeni Riyal to be next transferred to the central bank, with a view to limiting illegal currency speculation and achieve a stability in exchange rate.
Key words:
preferential - facilitating - proceedings - speculation - transferred - regulations - commercial - importers - mechanism - Importers -
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