Thursday , December 3 2020

The economist reveals the reasons for improving the local currency against a foreign background



The economist revealed the reasons for improving the local currency in relation to foreign currencies.

The head of the Economic Information Center Mustafa Nasr described it as "a positive indicator as a result of increased confidence in the policies and measures recently undertaken by the Central Bank".

"Simplifying the procedures for obtaining financing for importing basic commodities in dollars from the Saudi deposit and asking for them in Yemeni rubles, as well as opening document loans, raising the interest rate to 27 percent and creating cash reserves in the amount of 500," Nasr said in a Facebook publication. Billions of Rabbis of Yemen, all activities strengthening the central bank's ability to manage monetary policy and limit speculation.

"What we observe today is very similar to the alarming and unjustified price escalation that took place at the end of September," Nasr said.


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