The exchange rate of the Syrian pound against the dollar continued today, Tuesday, to rise in the parallel market, with the Syrian President Ahmed Al -Shara, at the invitation of President Recep Tayyip Erdogan.
The Sharia visit comes after a visit to Saudi Arabia, during which he met Crown Prince Mohammed bin Salman, which gave a reference to the market with the stability of the new administration, while increasing the possibility of developing economic relations with several countries.
The exchange rate of the Syrian lira today, Tuesday, in the parallel market
- The exchange rate of the Syrian pound in Damascus and Aleppo increased to 8300 pounds against the dollar when purchasing from 9 thousand registered yesterday evening, while its price increased upon the sale to 8400 pounds per dollar from 9100 pm yesterday.
- In Idlib, the exchange rate of the Syrian pound against the dollar increased to 8100 pounds per dollar from 9,000 pounds when buying, and upon sale the price of the Syrian currency against the dollar increased to 8,200 pounds from 9100 pounds.
- In Hasaka, the exchange rate of the Syrian pound against the dollar increased to 8,600 pounds against the dollar from 9100, registered in the last trading yesterday, while the sale price increased to 8700 from 9200 pounds against the dollar registered yesterday evening.
The exchange rate of the Syrian lira at the Central Bank of Syria
The Central Bank of Syria remained the exchange rate of the Syrian pound at 13 thousand pounds for purchase and 13 thousand and 130 pounds upon sale, according to the official bulletin issued today, Tuesday.
Economy experts describe prices without the exchange rates of the central bank that sweep the parallel exchange markets in Syria as a “rare case”.
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Why the Syrian pound continues to rise?
- Syrian President Ahmed Al -Sharaa is visiting Türkiye today at the invitation of President Recep Tayyip Erdogan.
- Syrian President Ahmed Al -Shara visited a visit to the Saudi capital, Riyadh, during which he met Crown Prince Mohammed bin Salman and expressed a desire for economic cooperation with the Kingdom.
- The new Syrian administration decided to cancel the work of the 2012 constitution, and the Arab Socialist Baath Party, the People’s Assembly, the army, and the security services affiliated with the regime of ousted President Bashar al -Assad.
- Last week, Syrian Finance Minister Mohamed Abazid discussed the possibility of easing the sanctions imposed on his country at his first meeting with European Union officials since the overthrow of Bashar al -Assad’s regime in December last year.
- The United States has reduced its sanctions on Syria, which opened the way for transactions with government institutions and energy transactions, and allowed the transfer of personal funds to the country, including through the central bank.
- Syrian banks do not pump the lira in the market, which prompts merchants and manufacturers to dispense with the dollar to obtain the lira from the parallel market to run their business.
- The supply of the US dollar increases, and the central bank holds precautions from the lira.
- Raising the customs tariff for import will motivate production and investment, support the local product, and limit the drain of the dollar.
