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2026/02/03
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Latest News:
Masam Project Clears 2,108 Houthi-Laid Mines in One Week
Human Rights Ministry Uncovers Grave Violations Committed by Emirati Officials and Foreign Mercenaries
President Warns Against Replicating Houthi Militia Violations Against Journalists and Public Freedoms
Prime Minister Receives UNDP Resident Representative to Yemen
Ambassador Eryani Discusses Developments in Yemen with German Foreign Ministry Official
Latest News:
Masam Project Clears 2,108 Houthi-Laid Mines in One Week
Human Rights Ministry Uncovers Grave Violations Committed by Emirati Officials and Foreign Mercenaries
President Warns Against Replicating Houthi Militia Violations Against Journalists and Public Freedoms
Prime Minister Receives UNDP Resident Representative to Yemen
Ambassador Eryani Discusses Developments in Yemen with German Foreign Ministry Official
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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