Parliament panel as Yemeni riyal falls sharply vs. U.S. dollar

SANA'A, March 23
(Saba) - Parliament has approved to set up a committee to study the current
situation of the
Yemeni riyal with the government and report on progress in a short time,the Septmber
website reporte on Tuesday.
The committee came after Parliament on Monday heard the clarifications of Minister
of Finance Noman al-Suhaibi and Yemen Central Bank Abdul Rahman al-Samawi over the
sharp
fall of the Yemeni riyal against the U.S. dollar.
The government said that economic, political and social reasons contributed to the
deterioration of the national currency including the latest local, regional and
international
developments.
Since early this year, the demand for the U.S. dollar has soared leading to its
high trade rates and negatively affecting the Yemeni currency, they made clear.
The bank has taken several measures to boost the confidence of the national
currency including increasing the interest rate and disallowing over-liquidation to
finance economic
activities in the country, al-Samawi said.
These days one U.S. dollar is trading for 217.5 Yemeni riyals, according to
exchange firms.
FR