Yemen central bank lifts interest rate on CDs to 27%

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Yemen central bank lifts interest rate on CDs to 27%

[19/09/2018 12:25]

ADEN-SABA
Yemen's Central Bank has lifted interest rate on certificates of deposit to 27 percent to set a limit to the continued depreciation of the national currency, the Riyal.

The dollar has climbed to more than 600 Riyals up from 215 Riyals during the ongoing war which was triggered by the Houthi militia's military coup in September 2014.

The bank also increased the interest rates on government bonds to 17 percent.