Central Bank Governor: Intervention in exchange market continuing on daily basis

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Damascus, SANA – The Central Bank of Syria (CBS) held on Tuesday an intervention session which was attended by representatives of exchange companies to discuss the developments in the SYP exchange rate and the recent developments in the market and to take the necessary measures to stabilize the exchange rate at acceptable levels.

CBS Governor Adib Mayyaleh emphasized that the Bank is continuing to carry out intervention in the foreign exchange market on daily basis through banks and exchange companies, adding that the Bank is ready to meet all the market’s foreign currency needs regardless of the cost until further notice, whether these needs are financing imports or personal needs of citizens, especially those related to study and treatment.

Mayyaleh pointed out that CBS is financing 95% of the imports financing requests that meet the required conditions, stressing the need for the exchange companies to commit to all instructions and decisions issued by the CBS.

Qabas / Hazem Sabbagh