Central Bank to withdraw $59.5 mln from Saudi deposit

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Local 0 H.k

September Net

Yemen Central bank (YCB) said that it got a permission to withdraw an amount of $59.5 million from the Saudi deposit allocated to support basic food stuff

This 17th payment amount would cover the letters of credits submitted by local commercial banks around the country, YCB’s Media Center said in a statement.

“The Saudi deposit worth $2 billion designed to cover the letters of credits submitted by traders to import basic food commodity including wheat, rice, sugar, children milk and oil cooking,” added the statement of which Saba got a copy

It added that the exchange rate for letters of credits is 440 Yemeni Rial ( YR) for $1.

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