Central Bank of Yemen announces receiving approval to withdraw the 17th payment of Saudi deposit

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Central Bank of Yemen announces receiving approval to withdraw the 17th payment of Saudi deposit

[24/02/2019 04:03]

ADEN-SABA
Media Center of Central Bank of Yemen (CBY) announced that the CBY has received the permission to withdraw the 17th payment from the Saudi deposit assigned to subsidize basic food stuffs.

The 17th payment amount is $59.5 million to cover the letters of credits submitted by local commercial banks around the country.

The CBY Media Center said in statement the Yemeni News Agency (Saba) received a copy of that the " Saudi deposit worth $2 billion allocated to cover the letters of credits submitted by traders to import basic food commodity( wheat, rice, sugar, children milk and oil cooking).

The CBY Media Center added " Exchange rate for letters of credits is 440 Yemeni Rial ( YR) for $1".