Yemeni central Bank approves financial allocations to cover import of essential items

Yemeni central Bank approves financial allocations to cover import of essential items

The Central Bank of Yemen on Thursday approved financial allocations for the importation of basic foodstuffs, which amount to no more than 200,000 dollars, and the sale of foreign currency to citizens traveling for treatment, without specifying the selling price.

According to the state news agency Saba, those decisions are designed to achieve flexibility and speed to enable repayment of these goods, thereby reducing the rapid collapse of the local currency.

The bank also approved an increase in the interest rate on deposits and documents by 27% for certificates of deposit and 17% for government bonds.

This comes at a time when the local currency continues to collapse to record levels in front of the foreign currency basket, and the sale price per dollar in the city of Aden, the temporary capital (south of the country), has reached 650 riyals per dollar.


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