Mayaleh: Measures to restore the purchasing power of the Syrian lira

Economy & Aftermath

DAMASCUS,(ST)_ The  Governor of the Central Bank of Syria Dr. Adib Mayaleh  stressed that the fierce war being waged against Syria and its people stands primarily behind the decline in the exchange rate of the Syrian pound against the dollar in addition to the psychological element  that drives some citizens  to convert their  savings from the Syrian lira to foreign currencies.

In an interview with the Syrian TV on Sunday, Mayaleh said that the lira is still strong   as many people bet  that it’s falling within months and this will not happen. He added that the high exchange rate of the dollar against the Syrian lira during last  week fell since Wednesday evening.

Mayaleh explained that the central bank continues to meet the needs of the national economy by providing hard currency for the imports as well as for  non-commercial operations including  medications and students abroad.

He continued  that the central bank would take several measures to protect the lira , including issuance of  deposit certificates at high  interest rates in order  to compensate citizens for their loss and to restore the purchasing power of the lira.

Mayaleh called  on Syrian citizens to submit their complaints to the Central Bank  in order to take the necessary measures to maintain the stability of exchange rate of the Lira .

Mayaleh noted the role played by Russia and China in support of the Syrian economy and the growing economic relationship with Iran, which is  linked with Syria to a credit line of one billion dollars. A sum sufficient to support the exchange rate of the Syrian Lira.

 

T. Fateh

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