The CBY discusses positive impacts of Saudi deposit

Al-Arada Discusses Latest Developments with U.S. Ambassador

Member of the Presidential Leadership Council General Sultan al-Arada discussed Wednesday, via videoconference, with the Ambassador of the United States to Yemen Steven Fagin latest developments of the political and military situation on the national scene.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

African Development Bank supports transport infrastructure in Somalia with $76 million

The African Development Bank has approved additional funding of $76.37 million for the road infrastructure program in Somalia, which is a key component of the Horn of Africa Corridor project connecting Somalia, Djibouti, and Ethiopia.

CAF Unveils Official Mascot for 2025 Africa Cup of Nations in Morocco

The Confederation of African Football (CAF) and the Local Organizing Committee unveiled the official mascot for the 2025 Africa Cup of Nations in Morocco, named "Asad" (Lion), embodying a symbol of African pride and passion for football.

Last Update: ، 2025/12/18 Time 02:04:02
Latest News:

Al-Arada Discusses Latest Developments with U.S. Ambassador

National Authority Condemns Houthi Death Sentences Against 3 Abductees

Major General Al-Zubaidi follows up on projects implemented to enhance water resources

Ambassador Al-Maitami Participates in Diplomatic Visit to Jilin Province

Leadership Council Member Maj. General al-Zubaid highlights importance of boosting role of Local Administration ..

The CBY discusses positive impacts of Saudi deposit

[23/01/2018 02:56]

ADEN-SABA
The Central Bank of Yemen(CBY) held its first meeting of 2018 on Tuesday in the interim capital Aden. The session chaired by the governor of the CBY Munassar Al-Qoa'iti and attended by Minister of Finance Ahmed Obeid Al-Fadhli.

The meeting aimed to discuss how to better use the Saudi deposit totaling $2billion to improve the value of the Yemeni national currency.

The meeting touched upon the requirements of regulating the foreign exchange market and aspects of using the currency exchange businesses to increase the foreign reserves and prop national currency exchange rate. Given that the CBY is set to undertake the implementation of the government's policy to ensure basic commodity supplies and improve the level of supply in the operating banks in Aden to enable their capacities to run their businesses effectively.

The meeting of the board of directors of the CBY has approved to issue instructions to the banks and businesses of currency exchange to relocate their headquarters in Aden and take necessary measures to put this in place.

The CBY governor touched upon the efforts have been made by the CBY in cooperation with the Ministry of Finance to implement the parameters of the state general budget in 2017 and to activate the CBY's account with the corresponding banks and to build capacities of the bank's workers with great sponsorship by the Saudi Arab Monetary Corporation.