CBS: Providing the Market with Foreign Exchange

Damascus, (ST) – The Central Bank of Syria (CBS) reconfirmed the continued provision of foreign exchange in the market in deliberate quantities to meet all commercial and non-commercial requirements of the market and the price of discriminatory exchange rate of 355 Syrian pounds to the dollar.

Governor of the Central Bank of Syria Dr. Adib Mayalaa said in a statement to local press that recent decline in the Syrian pound exchange rate, despite the ongoing foreign exchange market flow, is attributed to “the negative role played by some electronic pages to influence the exchange rate utilizing economic factors and driven out by illegal profit and implementation of foreign agendas of parties hostile to the Syrian state.”

The Governor called citizens not being misled by bulls and manipulators at the exchange rate and the use of the regular channels of foreign exchange which the Central Bank of Syria provided permanently referring to the behavior of speculators who established web pages dealing with the exchange rate and economic analyzes based in large part on rumors and pessimistic predictions about the future of the Syrian economy. “to achieve quick and illegal profits.”

He stressed the importance of maintaining of stability of the exchange rate and the defense of the Syrian pound as a national responsibility primarily s private agencies as well as citizens who must pay attention to the impact of the exchange rate on the living and the details of everyday life.

The Central Bank recently launched a campaign aimed at increasing the supply of foreign exchange in the market and stop the unjustified decline in the exchange rate of the Syrian pound.

Sh. Kh