CBS: Recent intervention measures lead to relative stability in SYP exchange rate

Damascus, SANA- The Central Bank of Syria (CBS) said on Thursday that its recent intervention measures have led to a relative stability of the SYP exchange rate, recovering by about 200 SYP compared to previous levels before the start of the recent intervention plan.

In a statement of which SANA received a copy, the CBS added that the exchange rate has responded strongly to the decrease done by the bank this morning which clearly led to its reduction in the black market.

The CBS reiterated that its measures led to reducing the gap between prices and curbed speculative opportunities and illegal profits.

The Central Bank of Syria reduced the exchange rate of transfers to SYP 485 for 1 dollar while the intervention price in the foreign exchange market and the exchange rate to finance imports remained at SYP 470 for 1 dollar.

Qabas/ Manal

Check Also

Arnous: Necessity of establishing companies of renewable energy production to secure electricity to industrial cities

Homs, SANA- Caretaker Prime Minister, Hussein Arnous, stressed the importance of finding firms for the …