CBS fixes price of intervention in foreign exchange market at SYP 565 against 1 USD

Damascus, SANA-The Central Bank of Syria (CBS) announced on Sunday that the price of intervention in the foreign exchange market was fixed at SYP 565 against 1 USD and the exchange rate of money orders set at SYP 575 against 1 USD, while the exchange rate of financing imports at SYP 565 against 1 USD.

In a statement that SANA received a copy of, the CBS said it increased the exchange rate of money orders from abroad to support the purchasing power of low-income people.

The CBS advised citizens to not deal with the black market in order not to be accountable in accordance with the Decree no. 54 for 2013, not to mention the risks associated with dealing with black market.

The CBS was quoted by sources in the market as saying that there is reluctance to deal in the dollar amid unprecedented demand for the Syrian pound and a sharp fall in the dollar’s exchange rate against the SYP due to the CBS recent intervention measures.

The sources expected that the exchange rate levels of the Syrian pound will improve over the next week.

Manar al-Frieh/Manal

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