ADEN – SABA
The central bank of Yemen intends, soon, to take firm decisions and measures at the level of the banking and exchange sectors to reform the situation as much as it can, to stop the sharp deterioration in the value of the local currency.
The bank reiterated that it enjoys complete independence, hoping that everyone will cooperate with it and realize the danger of the continued depreciation, and the risks of interference in its affairs.
The bank said in an explanatory statement issued by it: that no decision was taken to close the activity of exchange companies and facilities, and that the decision was taken by the Money Changers Association and presented to the competent department of the Central Bank, where this decision was dealt with as an initiative of the Money Changers Association and others among the initiatives that were discussed recently to contribute to limiting the deterioration of the local currency in light of abnormal and unstable working conditions.
The statement added: The Central Bank is aware of the sensitivity and complexities of the situation that arose after others intervened in the activity of the money exchange market, and even concluded agreements with a number of money changers without realizing the consequences of that, which we consider illegal and not binding on us in the Central Bank stressing the bank’s keenness to avoid fabricating any crisis or confrontation between it and any party, and making it a cause of the significant deterioration of the value of the local currency.
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