Maiyaleh: Available Reserves Adequate to Face Any Crises

DAMASCUS,(ST)-The Governor of the Central Bank of Syria, Adib Maiyaleh, said that the available reserves at the central bank are adequate “to face any crises”, stressing that “he is advancing in his policy toward those who manipulates the Syrian pound.

Earlier Mr. Maiyaleh described the rise of exchange rate of the dollar against the pound as “a bubble,” noting that the value of the Syrian pound is based on strong foundations including the available reserves to the Central Bank.

He also stressed that the licenses of the institutions exchange that are contrary to law would be withdrawn, and the owners will be taken to the competent courts.

The central bank recently adopted several measures to keep the value of the pound, especailly holding several sessions of intervention in the exchange market to reduce the exchange rate of the dollar and the campaign to chase the money changers who violate law.

SH. KH.