The exchange rate of the Syrian pound against the dollar today, Sunday, decreased in the market transactions parallel to the Syrian cities, while the Central Bank of Syria continues to fix the exchange rate in official transactions.
The exchange rate of the Syrian lira in the parallel market
- The exchange rate of the lira in Damascus, Aleppo and Idlib decreased to 9900 pounds when purchasing from 9650 pounds yesterday evening, while it decreased to 10 thousand and 50 pounds upon sale from 9800 pounds.
- In Hasaka, the exchange rate of the lira decreased to 10 thousand and 150 pounds from 9850 pounds upon purchase, and it decreased to 10 thousand and 250 pounds when selling from 10 thousand pounds.
The exchange rate of the Syrian lira in official transactions
The Central Bank of Syria has established the exchange rate of the Syrian pound at 11 thousand pounds when purchasing, and 11 thousand and 110 pounds in official transactions.
In statements to Al -Jazeera Net, analysts attributed the fluctuations in exchange rates to the psychological effects of the announcement of the lifting of the US sanctions announced by US President Donald Trump, these expectations – according to these – mean that the demand will rise on the Syrian pound in the future with the escalation of economic activity in its various forms, especially with the return of the displaced to their country with new investments among other tributaries of investment.
Analysts note that the fluctuation of the exchange rate of the Syrian pound comes due to the speculation in the markets, and analysts believe that the declaration of the lifting of sanctions will not have a real impact on the ground until after a minimum, because the decision is not only political but also followed by complex procedural aspects.
Analysts expected that the fluctuation of the exchange rate of the lira will continue during the current period, excluding that it would decrease to less than 8 thousand pounds against the dollar in the following months as long as the financial transfers did not flow.
Factors affecting the exchange rate of the Syrian lira
- US President Donald Trump’s announcement of fully sanctions against Syria, and his meeting with President Ahmed Al -Shara, marking the normalization of US -Syrian relations.
- Syrian President Ahmed Al -Shara France’s visit before last week, on his first trip to Europe since Bashar al -Assad was overthrown last December.
- Qatar and Saudi Arabia pledged to pay the arrears due to Syria to the World Bank, which amounts to about $ 15 million, in preparation for granting millions of dollars for reconstruction and public sector support.
- Qatar submitted an initiative to cover the salaries of public sector in Syria, in a move that observers considered a turning point in the path of recovering the Syrian economy after decades of corruption and 14 years of continuous conflict.
- Britain raised the freezing of the assets imposed on the Syrian defense and interior ministries and a number of intelligence services, and previously removed 24 Syrian entities – including the Central Bank and banks and oil companies – from the sanctions lists.
- Return of cooperation with the International Monetary Fund: Syrian Finance Minister Mohamed Youser Burniyah announced the appointment of Ron van Roden as the first president of the International Monetary Fund mission to Syria, in a first step of its kind in 14 years.
- The Central Bank of Syria has established the exchange rate of the lira against the dollar at 11 thousand for purchase, while maintaining the installation of this price at the present time.
- The Central Bank of Banks and exchange companies licensed to determine exchange rates within a specific margin on the official price, which provides a broader field of movement in the market.
