The exchange rate of the Syrian pound fell against the dollar today, Wednesday, in the parallel market in the Syrian governorates, while it recorded stability in official transactions, according to the Syrian Bank’s Central Bank bulletin.
The exchange rate of the Syrian lira today, Wednesday, in the parallel market
- The exchange rate of the Syrian pound in Damascus and Aleppo declined to 9 thousand pounds against the dollar when purchasing from 7900 pounds registered yesterday evening, while the price on the sale decreased to 9200 pounds per dollar from 8000 pounds yesterday evening.
- In Idlib, the exchange rate of the Syrian pound against the dollar decreased to 9 thousand pounds per dollar from 8 thousand pounds upon purchase, registered yesterday evening, and upon sale the price of the Syrian currency against the dollar fell to 9100 pounds from 8100 pounds.
- In Hasaka, the exchange rate of the Syrian pound against the dollar declined to 9500 pounds against the dollar from 8800, registered in the last trading yesterday, while the sale price decreased to 9600 from 8900 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, Wednesday.
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Factors affecting the exchange rate of the Syrian lira
- Syrian President Ahmed Al -Sharaa visited two visits to Saudi Arabia and Turkey days after he was called President of Syria.
- The new Syrian administration canceled the work of the constitution in 2012, 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.
- 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.
- Last week, Syrian Finance Minister Mohamed Abazid discussed the possibility of reducing the sanctions imposed on his country in his first meeting with European Union officials since the overthrow of Bashar al -Assad’s regime in December last year.
- The supply of the US dollar increases, and the central bank holds precautions from the lira.
- Syria banks do not pump the lira into the market, which prompts merchants and manufacturers to dispense with the dollar to obtain the lira from the parallel market to run their business.
- Raising the customs tariff for import will motivate production and investment, support the local product, and limit the drain of the dollar.
