CBS.. Remarkable improvement in exchange rate is due to positive intervention in foreign exchange market

Damascus, SANA- The Central Bank of Syria (CBS) said that the remarkable improvement in the Syrian pound exchange rate was a result of increasing the positive intervention of the CBS in the foreign exchange market especially after the weekend and Easter holiday.

CBS added in a statement on Tuesday of which SANA received a copy that the decline in the dollar’s exchange rate against the Syrian pound proves that there is a price bubble caused by speculators related to foreign operation rooms to achieve a decline in the exchange rate of the Syrian pound.

The CBS reaffirmed that it continues funding all non-commercial requirements related to medicine and education.

The CBS held on March 16th an intervention session during which CBS Governor Adib Maiyleh emphasized that the Bank continues intervention in the foreign exchange market permanently through banks and exchange companies, noting that it is ready to meet all needs without control.

Qabas/ Ghossoun

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