Yemen’s central bank takes measures to stop dramatic depreciation of the Riyal

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Yemen’s central bank takes measures to stop dramatic depreciation of the Riyal

[22/09/2020 03:38]

ADEN - SABA
Yemen’s Central Bank took a number of initial measures to control the dramatic depreciation of the national currency.

In a meeting in the bank’s headquarters in Aden today, the bank’s leadership adopted measures to regulate the import of fuel cargos, suspend the business permits for four money exchange businesses, suspend most local remittance networks as of Saturday 26th September until the creation of one network of exchangers that operates under the supervision of the bank.

The bank also decided to carry out regular inspection measures on money exchange businesses to control money speculation practices.