CBY forms a committee to study stability of Riyal

البنك المركزي عدن اجتماع

In Aden, a committee was formed, included representatives of the official and trade banks, and cashiers under the supervision of the Central Bank, to determine the exchange rate of the dollar.

 

The meeting dealt with coordination between the bank and the exchange companies and providing information by these companies to the bank for controlling the market and providing facilitations and solving all problems facing exchange process, said Saba News Agency.

 

The meeting agreed on formation a committee under the Central Bank to be tasked with holding monthly meetings for defining the price of the USD and agreed on setting up a unified system includes a number of conditions for organizing the work between exchangers and the bank.

 

"The companies and exchange centers are helping factor to the central bank; a matter requires integration of all efforts and teamwork to realize the stability of exchange sector and overcoming obstacles facing the market," said Zimam.

 

He added that the bank takes necessary measures for fighting money laundering and financing terrorism for protecting economic system, as well as boosting market with local currency and providing cash to banks.

 

He added that all these measures aim at limiting negative effects of the increasing prices of foreign currency and playing with goods prices.

 

He stressed that the Central Bank will take firm measures against violators.

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