CBS warns of suspicious websites posting fake exchange rates to achieve illicit gains

Damascus, SANA – The Central Bank of Syria (CBS) warned on Wednesday that some suspicious websites and pages intend to post low currency exchange rates prior to the intervention session in order to trick people with small savings in foreign currencies to sell their savings at low prices, and then raise the prices after the session.

The CBS said that by doing that, these websites and pages have two goals: giving the impression that the session had a negative impact on the market, and achieving illicit gains.

The CBS quoted informed sources in the market as saying that the widening gap between the buying and selling price of the USD in the unofficial market can be attributed to a prevailing state of inertia and low trading in the market.

On Tuesday, CBS Governor Adib Mayyaleh said 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.

Manar al-Freih / Hazem Sabbagh

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