The exchange rate of the Syrian pound stabilized against the US dollar according to data from the Central Bank of Syria, while it declined slightly during parallel market transactions according to sites monitoring market transactions in various Syrian cities.
The exchange rate of the Syrian pound stabilized at 13,000 for purchase against the dollar, given the prices recorded yesterday, Sunday, while it recorded 13,130 pounds for sale against the green note.
In the parallel market:
- The price range in Damascus and Aleppo reached 12,800 liras for purchase, down from the level of 12,700 liras against the dollar, while the selling price reached about 13,000 liras.
- The decline was less in Idlib, as the Syrian currency recorded 12,750 pounds for purchase against the dollar, down from 12,700, and the selling price reached 12,950, down from 12,900 against the dollar.
- In Al-Hasakah, the exchange rate of the Syrian currency fell to 12,500 against the dollar for purchase from 12,300 recorded yesterday, and in the case of selling, the price of the lira reached 12,700 liras against the dollar from the level of 12,500 liras.
Factors affecting the performance of the lira
The Minister of Economy in the caretaker government, Basil Abdel Hanan, spoke to Al Jazeera Net, earlier last month, 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.
Abdel Hanan added that in the future, as the wheel of production moves and exports begin, there will be steps that raise the value of the lira, but the current reality requires great efforts in addition to the concerted efforts of all.
He explained that the most important factor for strengthening the lira is production and export to introduce hard currency and increase the cash reserve, thus increasing the strength of the currency, as well as achieving stability in the exchange rate to stabilize the movement of commercial and monetary circulation.
Syrian Finance Minister Muhammad Abazid also said on Sunday that the government will increase the salaries of many public sector employees by 400% next month after completing the administrative restructuring of the ministries to enhance efficiency and accountability.
