[06 October 2008]

SANA'A, Oct. 06 (Saba) - The Central Bank of Yemen (CBY) pumped on Monday US $163 million to feed the local exchange market with its needs of foreign currency.

An official source at the CBY emphasized that the bank would continue to monitor the exchange market and to reinforce the national currency.

The year 2007 and the first half of 2008 have witnessed steadiness for the Riyal against the dollar the source noted, adding that the CBY would take the necessary steps to ensure a stable exchange rate.

It is worth mentioning that this is the ninth time the CBY intervened to support exchange rate of the Yemeni riyal against dollar in 2008 through selling of dollars in the market. The bank has pumped over one billion US Dollar so far.

AF/AF

Saba