Governor of CBS: Rise of Exchange Rate of the Dollar Bubble

Economy & Aftermath

DAMASCUS, (ST)- The Governor of the Central Bank of Syria (CBS), Adib Maiyaleh, described “The rise of the exchange rate of the dollar against the pound as “a leap or bubble,” noting that the value of the Syrian pound is based on strong foundations including available reserves to the CBS.

“The rise of the exchange rate of the dollar against the pound was due to external forces trying to destabilize the domestic economic situation, pointing out that the attempts to raise the exchange rate is coming from the outside to weaken the Syrian pound.” Mr. Maiyaleh said in a statement to al -Thawra Newspaper.

 All banks were asked to submit their requests to buy foreign exchange from the Central Bank to cover the needs of citizens for non-commercial purposes and with the same prices advertised for exchange companies, he added.

The central bank allowed the exchange companies to sell citizens 10 thousand dollars a year, but not more than a thousand dollars a month.

Sh. Kh.

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