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- Aden (Classic Reprint)
Aden (Classic Reprint)
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Excerpt from Aden
Interest rates in Aden are governed by those of the Bank of Bom bay, and are usually 2 per cent higher. The average rate during the year was 8 per cent on secured loans. Buying and selling rates are also governed by Bombay quotations. Exchange rates throughout the year were fairly steady.
The local banks provided at reasonable charges all necessary facili ties for the financing of exports and imports. Advances against produce about to be shipped were furnished without difficulty and in general the negotiation of regular export bills was easily arranged, but this does not promise to be the case throughout the current year.
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