Yemen currency hits record low

28 July 2010

Mohammed Awad bin Hamam, governor of Yemen's central bank, has said that injecting more cash in the exchange market is possible after an $80m injection failed to raise the country's rial currency, Reuters has reported. The rial has fallen about 12% from a level of 208 versus the dollar in mid-January. He said that demand is expected to decrease as supply of foreign currencies like the dollar, increase in coming days when remittances would be sent to Yemen by expatriates.

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