CBS injects USD 5 million out of the 65 millions planned for sale in market

Damascus, SANA – The Central Bank of Syria (CBS) injected Thursday the first package of the planned USD 65 million to cover the market needs of foreign currency for commercial and no-commercial purposes.

Injection came hours after the CBS announced a plan to appropriate this amount of money to be sold in market as part of its unconventional intervention mechanism in foreign currency market.

This mechanism has been employed over the past period in keeping with emergencies in the currency exchange market, cases of which, including unjustified speculation practices, have been frequenting.

During the intervention session held today, CBS Governor of Adib Mayala pointed out that the USD 5 million injected today will be sold to the licensed currency exchange offices and companies at SYP 215 per USD.

Citizens can buy foreign currency at the same price, he added.

The CBS will be holding another intervention session next Tuesday to sell another amount of foreign currency.

Haifa Said

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