CBS: Currency exchange companies obligated to purchase third tranche of foreign exchange

Damascus, SANA- Governor of the Central Bank of Syria (CBS) Adib Mayaleh announced on Thursday that the bank continued intervention in the foreign exchange market for the third day, adding that currency exchange companies and offices are committed to buying a third tranche of foreign exchange.

Mayaleh affirmed that the price of the intervention exchange was reduced to SYP 615 against the USD to complete the latest measures taken by the CBS to restore stability to the Syrian pound.

Mayaleh said in a statement on Thursday that each exchange company is committed to purchase USD 1 million while each exchange office is committed to buy USD 100 000 under the penalty of closing the company or the office if the purchase process is not completed.

“The intransigence shown by the black market is aimed at undermining the measures taken by the Central Bank to adjust the exchange rate to reach acceptable levels,” Mayaleh said, adding that the CBS will move forward in its procedures, adjusting prices and taking decisions that will restore the stability to the exchange rate.

On Wednesday, CBS held an urgent intervention session in the markets of Damascus and Aleppo attended by representatives of currency exchange companies and offices.

Qabas/ Manal

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