The exchange rate of the Syrian pound against the dollar fell today, Thursday, in the parallel market in the Syrian cities after a remarkable consecutive altitudes, which accompanied the announcement of US President Donald Trump to lift sanctions on Syria and his meeting with Syrian President Ahmed Al -Shara in the Saudi capital, Riyadh.
The exchange rate of the Syrian lira in the parallel market
- The exchange rate of the Syrian pound against the dollar in Damascus, Aleppo and Idlib declined to 9600 pounds when purchasing from 9100 pounds registered yesterday evening, and it decreased to 9900 pounds from 9400 when selling.
- The exchange rate of the Syrian pound against the dollar decreased when purchasing in Hasaka to 9850 from 9000 pounds, while it reached 1000 pounds from 9200 pounds registered yesterday evening.
The exchange rate of the lira in official transactions
The Central Bank of Syria has established the exchange rate of the Syrian pound against the dollar at 11 thousand for purchase and 11 thousand and 110 pounds when selling.
What are the levels of the expected Syrian lira exchange rates after the talk of the penalties?
The economic analyst, honored the slogan, attributed the current changes in exchange rates to the psychological effects of declaring the lifting of sanctions, which increases expectations that the demand will rise on the Syrian lira in the future with the escalation of economic activity in its various forms, especially with the return of the displaced people to their country with new investments among other tributaries of investment.
In a comment to Al -Jazeera Net, the slogan suggested that the American and other political statements issued, during the past days, have a direct impact of raising the exchange rate of the lira, but it is relatively short.
He expected that the exchange rate would return to the decline after it reached 7500 pounds against the dollar after the announcement of the lifting of the sanctions, but he ruled out that the price would return to the previous level, stressing that what affects these changes is the convictions about the future driven by political news.
The slogan said that the declaration of the lifting of sanctions will not have a real impact on the ground until after a minimum of months, because the decision is not only political, but is followed by complex procedural aspects. The penalties are laws and not executive orders, and the laws need to vote in legislative institutions.
For his part, economist Dr. Ziyad Arabash says that the fluctuation of the exchange rate of the Syrian pound comes due to speculation in the markets since yesterday morning to achieve economic gains on the impact of the psychological impact of the news of the trend towards lifting the sanctions.
He expected this fluctuation to continue the exchange rate during the current period, but it is excluded that it will decrease to less than 8,000 pounds against the dollar in the subsequent 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 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.
