Syrian Arab News Agency S A N A
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Damascus, SANA- The Central Bank of Syria (CBS) said that SYP exchange rate improved by about 20 SYP during the past two days since the market witnessed an explosion of the unexplained bubble price of the exchange rate which reached unprecedented levels.
In a statement of which SANA received a copy, CBS added that the improvement in the exchange rate was due to the intervention procedures for the provision of foreign currency in the foreign exchange market by banks and currency exchange companies and by financing imports of up to 100 % of the size of import licenses for funding.
CBS said earlier that the sudden rise in the USD exchange rate against the SYP is due to the increased demand for foreign exchange in the northern areas as terrorists have fled along with their families towards the Turkish borders fleeing from the Syrian Army’s strikes targeting these areas and carrying with them large amounts of foreign exchange.
Qabas/ Manal
