Exchange rate of dollar strikes ATMs

Exchange rates of YR to US$ dropped drastically while banks declined supplying ATMs with Dollars for the first time ever since introducing this service in Yemen

ATMs in Sana’a do not dispense Dollars, it is not a bank or two, but most of the banks in Yemen have stopped dispensing US Dollars from their ATMs.
 
Fowaz Bin Shuaib, from Shamil Bank of Yemen and Bahrain confirmed this, “due to the vicissitudes of exchange rates in the clearance with the international banks, we have suffered losses, therefore we had to suspend Dollar withdraws with credit cards,” said Bin Shuaib. He added “Yet if you have an account in Shamil Bank of Yemen and Bahrain you will be able to cash Dollar from the cashier easily,”
 
Tadamon Islamic Bank also suspended the Dollar drawing operation from their ATMs, “We have to stop stocking the ATMs with Dollars due to the vicissitudes of exchange rates, but it is still possible to draw Dollars from the counter if you have an account in the Bank,” said Jamil al-Oraiqi.
 
Jonathan Ramos, a Canadian tourist spent two hours looking for US Dollars in Sana’a banks, “It is a terrible system, I spent two hours in the capital of Yemen looking for an ATM to cash US$ before I travel, but I only found Yemeni Riyal, the capital should at least provide good monetary services,”

Yemen International Bank continued to stock their ATMs with Dollar even with vicissitudes of exchange rates. “Some Banks suspended the drawing operation of Dollars, but we still feed our ATMs with dollars, and at this moment there are dollar drawing operations running. We will not suspend dollar feeding unless we had further notice from the administration of the bank,” said Ez al-Deen al-Mamari from the credit cards department of the bank.
 
The dollar exchange rates have changed drastically since the beginning of 2010 to reach about 20% disadvantage of Yemeni Riyal to the US dollar. The exchange rate has reached 237 Riyal for a Dollar up from 205.

Related Content

•  Al-Qaeda statement denies official reports
•  Dutch police detains two Yemenis on US flight
•  Mysterious fate of Sa’dah deputy security director
•  Government and Houthis sign schedule for implementing 22 points
•  Final qualifying stage for Yemen poet, Al-Aqeeq channel
•  Economic Media Center demands traders maintain reasonable prices
•  SCER mandates education to review voters tables for 2010
•  More than million children out of school, government report
•  Intensifying al-Qaeda attacks are government’s biggest challenge, President Saleh
•  Abyan al-Qaeda attacks security raising death toll to 23 troops