Central Bank pumps $132 mln into exchange market
The Source: sabanews.net - 06/10/2009
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Central Bank of Yemen (CBY) pumped on Tuesday $132 million into the local exchange market to support Yemeni Rial against the foreign currencies. The bank's intervention, the sixth during the current year, comes to face the market demands of the foreign currency and create balance between supply and demand, CBY said in a press release.The bank will continue to monitor the exchange market and feed it with its needs of foreign currencies.The last time CBY intervened in 2009 was on July 29 with $205 million. Thus, the Bank has feed the local market with about $808 million during the current year.
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
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