Mayaleh: CBS plans to sell foreign exchange that equals what is usually sold during three days

Damascus, SANA- Governor of the Central Bank of Syria (CBS) Adib Mayaleh said that the CBS intends to sell foreign exchange that equals what is usually sold within three days, expecting to have a decrease in the dollar’s exchange rate against SYP.

In a statement of which SANA received a copy, the CBS said that rumors about stopping intervention in the foreign exchange market are untrue, affirming that the CBS continues to intervene in the exchange market at SYP 470 for 1 dollar.

The CBS pointed out that it continues to apply various tools of conventional and unconventional monetary policy, the most important of which is direct intervention in the market and liquidity management to control demand for foreign exchange and achieve relative stability in the exchange rate.

The CBS considered that continuing to intervene for nearly five weeks will reflect positively on the prices of goods and items in the market.

The statement explained that the CBS is the key player in determining the size of the demand and supply of foreign exchange in the market through recent measures to control liquidity and increase supply in the market.

Qabas/ Manal

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