Damascus, SANA – Central Bank of Syria held on Thursday an emergency interference session to discuss the causes and factors of the recent decrease on the Syrian pound exchange rate and to take necessary measures to restore stability to the exchange rate.
Participants in the session stressed that the exchange rate during the past week reached exaggerated and unjustifiable levels as it reached SYP 173 per USD.
They pointed out that the operations of smuggling money across the borders have increased.
Governor of the Central Bank of Syria, Adib Mayaleh, stressed the capability of the bank to meet the needs of the market of foreign exchange whether to fund commercial operations or non-commercial operations, adding that the bank funded about 80 to 100% of the daily requests last week.
During the session, USD 20 million were offered for sale to the money-exchange companies, but none of these companies purchased any amount due to the availability of sufficient offer in the market.