CBY SOLD $205 MILLION IN THE LOCAL EXCHANGE MARKET
The central bank of Yemen yesterday sold in the local exchange rate market 205 million U.S. Dollar to meet the increasing demand for foreign currency to cover imports and as well as other foreign exchange needs in the market.
This intervention is consider the second this month and the fifth since the beginning of 2009. Worth mentioning; the aggregate interventions for this year up to yesterday has reached 676 million U.S. Dollar compared to 1,248 U.S million dollars for the whole year 2008.
The central bank of Yemen confirms the readiness to supply the local exchange market with foreign exchange whenever there is a need for it