CBS allows money-changing companies to reserve 30% of daily transfers

Damascus, SANA- Central Bank of Syria CBS held Sunday a meeting to follow up developments of the Syrian pound’s price against foreign currencies and discuss reasons that led to the drop of the Lira price in the market.

CBS Governor Adeb Mayaleh called for taking necessary procedures to boost and support the exchange price and hunt the manipulators in the markets, pointing out to a number of factors and practices that stirred demand on the foreign currency for different purposes like trade, import and manipulations.

He affirmed that the Bank has allowed the licensed money-changing companies to reserve not more than 30% of the total amount of daily transfers for financing the currency demands for trade and non-trade purposes.

Mayaleh reaffirmed that CBS is determined to fund the market demands of the foreign currency for trade and non-trade purposes through the licensed banks.

Mazen Eyon