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Latest News:
Government team discussed with World Bank delegation ways to strengthen partnership expand development ..
Yemen Embassy Chargé d’Affaires discusses strengthening bilateral relations with South African official
Al-Subaihi stresses the need to double the provision of services to citizens in Abyan, tightening security
Al-Alimi praises Yemeni crowds expressing support for Saudi Arabia, Gulf states against Iranian aggression ..
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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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