Yemen Reserves of Foreign Exchange Record about US$5.94 bln last year

Yemen Reserves of Foreign Exchange Record about US$5.94 bln last year

SANA'A, Feb 27, 2011- Yemen reserves of foreign exchange have recorded in 2010 approximately US$5.94 billion. This figure shows a decline of USD 1.05 billion from the previous year.

According to a report by the Central Bank of Yemen, the Bank's budget YR 1.88 trillion in 2010, with a slight increase amounted to YR 29 billion from the previous year 2009.

The report added that the volume of money supply recorded an increase of YR 131 billion to reach nearly YR 2.2 trillion by the end of 2010, compared with nearly YR 2.76 trillion at the end of 2009.

By the end of 2010, the net foreign assets amounted to YR 1.69 trillion, compared with YR 2.79 trillion in 2009. It shows a decline of YR 99 billion.

By the end of 2010, the net claims on the government reached YR 780.5 billion, compared with a debit balance of YR 533 in 2009. Also, by the end of last year, the claims on the private sector raised YR 39 billion to reach more than YR 539 billion. In 2009, it was nearly YR 500 billion.

By the end of 2010, the volume of the issued currency recorded over YR 571 billion, while the total credit of the value of the government three-year bonds amounted to nearly YR 409billion. These three-year bonds are allocated for pension and insurance funds.

Source: (Saba)