ID :
68102
Sun, 06/28/2009 - 20:43
Auther :
Shortlink :
https://www.oananews.org//node/68102
The shortlink copeid
CBY pumps $117 mln into exchange market
SANA'A, June 27 (Saba) - Central Bank of Yemen (CBY) pumped on Saturday $117 million
into the exchange market to support the national currency against foreign
currencies.
The bank's move, the second within two weeks, comes to face the market demands and
create balance between supply and demand, CBY said in a press release.
The bank indicated that Yemeni Rial has been distinctively stable in the last period
against the dollar as it has not decreased but with less than one percent since the
beginning of 2009, noting to the inflation's decline that reach less than 3 percent.
The bank will continue to monitor the exchange market and feed it with its needs of
foreign currencies.
The first time CBY intervened in 2009 was on June 16 with $38 million.
It is worth to mention that the CBY has intervened twelve times during 2008 to
reinforce the national currency. The Bank has feed the local market with about
$1.248 billion in 2008.
BA/AF
into the exchange market to support the national currency against foreign
currencies.
The bank's move, the second within two weeks, comes to face the market demands and
create balance between supply and demand, CBY said in a press release.
The bank indicated that Yemeni Rial has been distinctively stable in the last period
against the dollar as it has not decreased but with less than one percent since the
beginning of 2009, noting to the inflation's decline that reach less than 3 percent.
The bank will continue to monitor the exchange market and feed it with its needs of
foreign currencies.
The first time CBY intervened in 2009 was on June 16 with $38 million.
It is worth to mention that the CBY has intervened twelve times during 2008 to
reinforce the national currency. The Bank has feed the local market with about
$1.248 billion in 2008.
BA/AF
