The exchange rate of the Syrian pound rose against the dollar today, Tuesday, in parallel market transactions, recording gains of 2.07%, while it remained stable in official transactions, according to the bulletin of the Central Bank of Syria.
The Syrian Central Bank stated that the price of the Syrian pound recorded in the parallel market at 11,850 per US dollar today, Tuesday, compared to 12,100 on Monday.
Parallel market transactions
- The exchange rate of the Syrian pound against the dollar rose today, Tuesday, January 21, in Damascus, to 11,650 liras when buying, compared to 11,700 liras, and when selling, the exchange rate reached 11,850 liras today, compared to 11,900 in the last transactions yesterday.
- In Aleppo, the exchange rate of the Syrian pound against the dollar increased today to 11,650 liras from 11,750 liras recorded yesterday. Upon sale, the exchange rate reached 11,850 liras today, compared to 11,950 liras recorded in the last transactions yesterday.
- In Idlib, the exchange rate of the Syrian pound against the dollar rose today to 11,700 pounds when buying from 11,800 pounds recorded yesterday. It also rose to 11,800 when selling, compared to 11,900 pounds recorded during transactions yesterday evening.
- In Al-Hasakah, the exchange rate of the Syrian pound against the dollar increased today, Tuesday, to 11,700 liras when buying from 11,800 liras in yesterday’s transactions, and to 11,800 liras when selling from 11,900 liras recorded yesterday.
The exchange rate of the lira at the Central Bank of Syria
At the Central Bank, the exchange rate of the Syrian pound stabilized today, Tuesday, at 13,65 pounds for purchase against the dollar, while it recorded 13,130 pounds for sale against the green note (dollar).
Factors affecting support for the lira
- Syrian banks and banks refrained from pumping the lira into the markets, and thus merchants and factory owners were forced to sell the dollar in exchange for obtaining the lira from the parallel market to cover their expenses.
- The government is holding on to limited amounts of the Syrian pound to fulfill its commitment to pay the 400% increase in employees’ salaries starting in February 2025, which has increased the government’s demand for the Syrian pound.
- The supply of dollars increases, and the central bank holds on to lira reserves.
- Yesterday, Monday, Reuters reported from two documents that the European Union is considering a gradual suspension of numerous economic sanctions on Syria as it seeks to support the country’s transition, while retaining some influence.
- The Syrian Minister of Trade in the Syrian caretaker government, Maher Khalil Al-Hassan, stated in an interview with Al Jazeera Net that most of the customs duties will witness a significant decrease, stressing that this will be reflected directly and positively on the prices of goods in the markets.
- America has eased sanctions on Syria, allowing transactions with government institutions and some energy transactions, and allowing the transfer of personal funds to Syria, including through the Syrian Central Bank.
- The Governor of the Central Bank of Syria, Maysaa Sabreen, said earlier that the United States allowing personal transfers from Syrians abroad was a positive step, calling for the sanctions to be completely lifted.
- The governor of the Central Bank of Syria said that the bank has enough money to pay public sector salaries after the 400% increase pledged by the caretaker government.
- Economy Minister Basil Abdel Hanan spoke to Al Jazeera Net earlier about a plan regarding the lira, saying that the main goal is first to stabilize the exchange rate in order to stabilize the markets and move the wheel of trade exchange.
