CBY sells $100 million into exchange market

The Central Bank of Yemen (CBY) pumped on Monday $100 million into the exchange market to cover the market needs , bringing the total amount the bank has pumped since the beginning of 2010 to $ 595 million.
 
Director General of Public Relations at the CBY Yahya al-Kustaban confirmed that the bank will continue to monitor the exchange market and provide it with its needs of the foreign currency.
 
He pointed to the bank’s recent decision to increase two points on the rate of interest for Riyal to amount to a 12 percent, which makes the Riyal deposit more beneficial for the depositors.
 
The Dollar’s returns in the Yemeni market have become zero, al-Kustaban noted.

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