Yemen's Foreign Exchange Reserves Drop 67 Million in August

11/3/2014 5:08:52 AM

(MENAFN- Qatar News Agency) Sana'a November 02 (QNA) - Yemen's reserves of foreign exchange decreased to $ 5.180 billion in August 2014 recording a decline of $67 million compared with July.

The reserve fund increased by $430 million in July after entering the Saudi financial aid to the Yemeni government account according to Yemen news agency (Saba).

According to a report issued by the Central Bank of Yemen (CBY) the Bank covered the import bill of oil derivatives and basic foodstuffs during the same month with an amount equal to $163 million.

The CBY's budget recorded a noticeable decrease estimated at 50 billion rials by end of August to score the current balance amounting 2.169 trillion rials.

The report showed that the net claims on the government during the same month declined about 36 billion rials to record a balance due of 1.850 trillion rials while the claims on the non-government sector increased to 843 billion rials with an increase of five billion rials.

The report also noted that the money supply declined 45 billion rials in August to reach 3.133 trillion rials. (QNA)

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