CBS: the Bank is going ahead with decreasing the exchange price

Damascus, SANA – Governor of Central Bank of Syria Adib Mayaleh said that  the Bank is going ahead with decreasing the exchange price.

“CBS is the only one which decides the date and volume of drop”, Mayaleh said in a statement to SANA.

He warned against any manipulation or any return to rise in the exchange price, saying “any such step will be faced decisively by the CBS and speculators will gain more losses.”

CBS sets intervention exchange price at SYP 475 per USD, denies claims on cashing transfers in USD

The Central Bank of Syria (CBS) on Wednesday denied allegations by some websites on cashing money orders in USD instead of SYP under the claims of the CBS “not being able to cash them in the prices it set.”

In a statement, the CBS warned citizens against accepting the cashing of money orders in foreign currency, asserting that any violations of the regulations for cashing transfers will entail legal actions.

The Bank also denied rumors about it issuing more than one currency prices statement per day, and rumors about its intent to reverse its decision on exempting exporters from returning foreign currency procured for export purposes, stressing that this rumor seeks to create false demand for USD and raise its price.

Earlier in the day, the CBS  announced further decreasing the intervention exchange price to SYP 475 per 1 USD.

In a statement, the CBS also set the USD exchange rate for transfers at SYP 480 and SYP 475 for financing imports.

Tuesday intervention exchange rate was set at SYP 500 per 1 USD. For transfers and financing imports, exchange rate was set at SYP 505 and SYP 500 respectively.

In the same context, the CBS set the exchange rate of the USD against the SYP at 475.52 for banks, 477.56 for exchange companies and 480 for transfers.

The bank set the price of the EUR against the SYP at 529.40 for banks, 531.66 for exchange companies and 533.74 for transfers.

R. Milhem/ H. Said / Hazem Sabbagh

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