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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Yemen foreign currency reserves drop by $1.3 bln

Posted on 04 August 2011

Yemen’s foreign currency reserves declined sharply in the first half of this year due to persistent unrest and associated problems, the Central Bank of Yemen said on Tuesday, expecting the inflation rate, now at 15 percent, will decrease soon.
Governor of the Bank, Muhammad bin Hamam, said the foreign currency reserves fell by $1.3 billion and that they reached by July 30 $4.6 billion. The reserves are expected to increase when the political crisis ends, he said……………………………………….Full Article: Source


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