Zemmam: We're waiting for deposits worth $3 billion, exchange rates recovery to be sustainable

President al-Alimi leads funeral procession of former President Abd-Rabu Mansour Hadi

His Excellency President Dr. Rashad al-Alimi, the Chairman of the Presidential Leadership Council, accompanied by council members Sultan al-Aradah, Tariq Saleh, Dr. Abdullah al-Alimi and Othman Mujalli led Friday the crowds of worshippers and mourners in the funeral procession of Yemen’s great late leader, former President Field Marshal Abd- Rabu Mansour Hadi.

Death Toll from Israeli Offensive in Gaza Rises to 72,757, with 172,645 Injured

Medical sources in Gaza Strip said the death toll from the Israeli military offensive on the territory has risen to 72,757, while the number of wounded has reached 172,645 since the outbreak of the war on October 7, 2023.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Inter Milan a win away from Serie A title

Inter Milan continued its successful march to reclaim the Italian football league title, despite drawing with its host Torino (2-2), in the conclusion of the 34th round of the competition.

Last Update: ، 2026/05/29 Time 05:18:23
Latest News:

Saudi Leadership Extends Condolences Over Death of Former Yemeni President Abdrabbuh Mansur Hadi

Presidency Mourns Former Yemeni President Field Marshal Abd-Rabbu Mansour Hadi

Yemen Strongly Denounces Aggressive Attacks Against Kuwait

Presidential Leadership Council Member Al-Arada Performs Eid al-Adha Prayers with Worshippers, Receives ..

Leadership Council Members, PM Perform Eid al-Adha Prayers with Worshippers in Aden

Zemmam: We're waiting for deposits worth $3 billion, exchange rates recovery to be sustainable

[01/12/2018 04:50]

RIYADH-SABA
Governor of the Central Bank of Yemen (CYB) Dr Mohammed Zemmam said" The CYB was waiting for deposits totaling $3 billion and we're working on this issue".

In statement to the Yemeni News Agency (Saba) he stated that the CYB is going to take several decisions to keep on the improvement of national currency exchange rate and there are a bunch of decisions will be taken by the UN or some countries regarding the new deposits.

He stated that recovery will be stable and sustainable provided that some measures must be taken inside and outside the country with the government start to work out the 2019 state's budget.

Dr Zemmam held a meeting Saturday in Riyadh with the Assistant of the UN Secretary General for Humanitarian Affairs Marck Lowckock and the Resident Representative of the UN in Yemen Lise Grande.

The session devoted to discus fiscal and Monterey situation in Yemen.

Discussions touched upon practical steps have been made by the CYB, mainly open letter of credits for all basic commodities and the approvals of withdrawing some $300 million from the Saudi deposit, largest portion has already been transferred to the banks and the remain part is in progress to be transferred.

Zemmam has confirmed that improvement in the value of Yemeni Rial (YR) has been a result of speculations but rather because of measures taken by the CYB reviving monetary and liquidity management so that all amounts of banknotes are being printed now go the reserves. " We have got a reserves totaling 500 billion (YR), we presently pay pensions for all pensioners in Yemen, we'll start paying pensioners in Sana'a next week", said Zemmam.

He added" It is agreed to consider transferring all amounts through the UN and other countries via the CYB to boost the CYB's reserves to help sustaining the (YR) which is now fairly valued".

The Governor of CYB indicated that he is going to meet similar meetings with the Eyptian, Saudi, Emirati and American sides.