Almotamar Net - A senior official at the International Monetary Fund (IMF) affirmed Friday that the gains achieved by the Yemeni currency recently, after its drop to a low standard level, and growth of foreign currencies reserves are first signs that the strict economic reforms taken in Yemen began to yield its results.

Saturday, 28-August-2010
Almotamar.net - A senior official at the International Monetary Fund (IMF) affirmed Friday that the gains achieved by the Yemeni currency recently, after its drop to a low standard level, and growth of foreign currencies reserves are first signs that the strict economic reforms taken in Yemen began to yield its results.

Head of the IMF mission in Yemen Hassan al-Atrash told Reuters that the government did not interfere in the market last month for supporting the currency and that is an indication that the situation began to be stable, adding that the currency went beyond acceptable levels in the last drop and its rise recently would receive welcome.

Al-Atrash has also praised the government for its taking strict economic measures under a difficult climate, affirming the importance of maintaining this pushing force especially with retreat of oil revenues.

Meanwhile, the national currency continued its improvement against foreign currencies, especially against the dollar which registered on Friday Yemeni 215 riyal for each dollar amid great satisfaction in the Yemeni street. The dollar reached at the beginning of this August more than 260 Yemeni riyals for a dollar.

The other foreign currencies have also continued their drop against the Yemeni riyal, among them the sterling, the euro, the Saudi riyal and other foreign currencies.
This story was printed at: Thursday, 20-February-2020 Time: 11:52 AM
Original story link: http://www.almotamar.net/en/7713.htm