Mayaleh: Reserves of Hard Currency Sufficient to Support Lira Exchange Rate

Economy & Aftermath

DAMASCUS, (ST) – The Governor of the Central Bank of Syria (CBS), Dr. Adib Mayaleh, confirmed that the mass of foreign currency reserves in the bank is sufficient to support the balance of the lira exchange rate in the market.

During a meeting with chairman of the Damascus Chamber of Commerce(DCC), Ghassan al- Qalla’ and the Board of Directors of DCC,  Dr. Mayalleh called for working  to the benefit of public interest in terms of import costs, stressing that the bank handles all importers who seek funding equally.

They discussed the financing of imports from the public and private banks to meet the needs of the local market of materials and commodities such as oils, fat, sugar, rice, along with the necessary raw materials for the pharmaceutical industry, especially milk for children and the needs of factories.

The meeting tackled necessary ways and to maintain the size of the reserve and balanced exchange rate, cooperation among all parties to retain the Syrian currency strong, maintain reasonable price and continuity for the development of commercial and banking work.

Sh. Kh.

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