CBS decreases intervention exchange price to SYP 590 per USD

Damascus, SANA – The Central Bank of Syria (CBS) announced on Tuesday decreasing the exchange price to SYP 590 per dollar (USD), within the intervention plan announced last Tuesday.

The intervention exchange price will be supervised on daily basis as the intervention plan will continue till the exchange rate reaches acceptable levels, the CBS said in a statement on Tuesday.

According to the plan, currency exchange companies and offices are compelled to purchase a fifth tranche of foreign currency, said the statement, explaining that each exchange company is committed to purchase USD 1 million, while each exchange office is committed to purchase USD 100,000.

Companies and offices have to sell the purchased foreign currency immediately to citizens under the penalty of closing the company or the office if the purchase process is not completed, the statement added.

The intervention price set by the CBS on Monday was SYP 600 per dollar.

M. al-Frieh/H. Said

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