Syrian Arab News Agency S A N A
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Damascus, SANA- Governor of the Central Bank of Syria (CBS) Adib Mayaleh announced an expansion of the CBS intervention measures to include Beirut market in order to curb the effect of currency manipulation there.
The governor’s comments came during an intervention session held on Sunday, attended by licensed currency exchange companies. The attendees discussed the supply and demand in the foreign currency exchange market and adjacent markets.
He noted that the intervention aims to pull out the sum in Syrian pounds in Beirut Market whose goal is speculation on the SYP exchange rate.
Mayaleh pointed out that intervention will be via licensed currency exchange companies and the CBS bank’s special tools to guarantee more effective control of the volume of the Syrian pounds on offer in Beirut market.
He also stressed the CBS readiness to meet citizens’ needs of foreign currency for commercial and non-commercial purposes without limits and as fast as possible.
The governor affirmed that intervention sessions will continue in the currency market in order to stabilize the SYP exchange rate.
CBS had announced a plan to appropriate $ 65 million to be sold in market for commercial and non-commercial purposes as part of its unconventional intervention mechanism in foreign currency market.
Manar al-Frieh/Manal Ismael
