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FinancialNews
02-10-18
Yemen's exchange first close over currency crisis
(MENAFN) Yemen's exchange firms have suspended their operations and launched a strike in opposition of the national currency collapse.
The announcement has been made in a joint statement issued by commercial banks and exchange companies which are running in Aden, a southern port city.
The companies have reached the resolution to shut down after the local currency suffered a significant devaluation against foreign currencies.
The Yemeni Finance Ministry and the Central Bank received an appeal from the exchange companies to instantly employ need measures on the matter and seek out resolutions to end the currency devaluation.
It comes after Yemeni President Abdu-Rabbu Mansour Hadi discussed the crisis in an emergency meeting held with the supreme economic committee as well as key government officials.
MENAFN0210201800450000ID1097516189
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