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2026/01/30
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07:21:13
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Latest News:
Chief of the General Staff Discusses Ways to Enhance Defense, Security Cooperation with U.S. and British ..
Governor of Taiz Discusses with World Food Program Mechanism for Approving, Distributing Food Parcels ..
Presidential Council Member Meets French Ambassador, Discuss Political Development
Yemen participates in the 2nd Ministerial Meeting of Middle East Green Initiative Council
Prime Minister receives American Ambassador, U.S. Department of State delegation
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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