Decisions on supporting exports and issuing certificate of deposit made during meeting chaired by Premier Khamis

Damascus, SANA – A special work meeting chaired by Prime Minister Imad Khamis on Monday, during which the participants decided to continue supporting exports to spare the export field the repercussions of the decline of the US Dollar exchange rate against the Syrian Pound.

They also decided to issue certificate of deposit (CD) with incentive interest Rates and in Syrian Pounds.

The participants discussed the monetary policy and the impact of exchange rate’s fluctuations on the economy and production, especially exports, pointing out that the reasons behind the drop in the USD exchange rate include the Syrian Army’s victories, in addition to the amount of the foreign currency transfers from the Syrians living abroad for their families.

The participants added that other factors include the flow of some assets for hundreds of individuals and investors who returned to the country, in addition to the government reclaiming natural resources such as oil and gas fields, and the increase of exports.

Furthermore, they affirmed that the exchange rate is subject to daily supervision by the government’s authorities and the Central Bank of Syria, which today reduced the exchange rate of the USD against the SYP to 434 for transfers to reduce the price margin with the black market.

Emma / Hazem Sabbagh