CBY announces direct intervention to redress YR value against foreign currencies

FM meets with Russian President's special envoy for Middle East, Africa

The Minister of Foreign Affairs and Expatriates Dr. Shaya Zindani met today, Friday, in Baghdad, with the Special Envoy of the Russian President for the Middle East and Africa, Deputy Foreign Minister Mikhail Bogdanov.

Israeli aggression on Gaza leaves 51,157 people martyred, and 116,724 others Injured

The ongoing aggression by Israeli occupation forces on Gaza has resulted in a death toll of 51,157 and 116,724 injuries since October 7, 2023.

GDP grows 0.3 percent in Eurozone, EU in 1Q

The gross domestic product (GDP) in the Eurozone and the European Union (EU) registered a growth of 0.3 percent during the first quarter of the current year compared to the previous quarter.

Bologna Wins Italian Cup Title for Third Time in History

Bologna FC has been crowned the champion of the Italian Cup for the third time in its history, after defeating AC Milan 1-0 in the final match.

Last Update: ، 2025/05/17 Time 01:43:54
Latest News:

PM emphasizes Germany's role in backing government's efforts to address pressing priorities

Tareq Saleh discusses with the Governor of Taiz and the Deputy Minister of Transport the acceleration ..

PM, U.S. Ambassador discuss bilateral relations

Prime Minister Receives Secretary-General of Gulf Cooperation Council

Deputy Foreign Minister discusses ways to enhance cooperation with Italian Official

CBY announces direct intervention to redress YR value against foreign currencies

[09/08/2018 06:07]

ADEN-SABA
The Central Bank of Yemen (CBY) announced Thursday direct intervention to adjust the value of Yemeni Rial (YR) against the foreign currencies after speculations in currency exchange market resulted in unprecedented fall down of the national currency.

The CBY had decided to offer batches of foreign currencies to meet the needs of domestic market for foreign currency, specifically to meet the demands of commercial sector in order to stop speculation activities and help ensuring prices stability.

The CBY has asserted that its direct intervention comes in the framework of its overall plan for adjusting monetary policies and activating its tools.

The CBY also has made clear that it decided to keep its direct intervention in place and develop the mechanism of this intervention until foreign exchange rates return to realistic levels.