The exchange rate of the Syrian pound against the dollar fell today, Monday, in the parallel market transactions, while it recorded stability in official transactions, according to the Syrian Bank’s Central Bank bulletin.
Parallel market transactions
- The exchange rate of the Syrian pound against the dollar today, Monday, January 27, in Damascus and Aleppo, fell to 11 thousand and 550 pounds for purchase, from 11 thousand and 350 dollars registered in trading this morning, and upon purchase the price fell to 11 thousand and 700 pounds from 11 thousand and 450 pounds against The dollar in morning transactions.
- In Idlib and Al -Hasaka, the exchange rate of the Syrian pound against the dollar decreased to 11 thousand and 300 dollars when purchasing from 11 thousand and 200 in morning transactions and upon sale the price fell to 11 thousand and 11 thousand and 400 from 11 thousand and 300 pounds against the dollar in the morning trading.
- These prices are an increase in yesterday’s levels of about 11 thousand and 600 pounds when purchasing, and 11 thousand and 700 when selling.
The exchange rate of the lira at the Central Bank of Syria
In the Central Bank, the Syrian lira exchange rate stabilized today at 13,000 for purchase against the dollar, while 13 thousand and 130 pounds for sale against the dollar.
Factors affect the exchange rate of the Syrian pound
- Syrian banks refrain from pumping the local currency into the market, and this pushes merchants and manufacturers towards selling the dollar to obtain the local currency from the parallel market to run their business.
- The government retains limited quantities of the lira to fulfill the increase in employee salaries by 400% starting from next month, which increases the government’s request to the Syrian pound.
- Increasing the supply from the dollar, and the Central Bank of Syria holds the local currency reserves.
- French Foreign Minister Jean -Noel Barrow said that the European Union will raise some sanctions imposed on Syria, hours before the Federation meeting in Brussels to discuss the lifting of sanctions.
- The United States has reduced its sanctions on Syria, allowing transactions with government institutions and some energy transactions, and allowing person to transfer personal funds to Syria, including across the Syrian Central.
- The Central Bank of Syria, Maysa Sabreen, said earlier that the United States allowing personal transfers from Syrians abroad was a positive step, calling for the fully lifting sanctions.
- Economy Minister Basil Abdel Hanan told Al -Jazeera Net earlier that there is a plan to stabilize the exchange rate in order to stabilize the markets and move the wheel of trade.
