The exchange rate of the Syrian pound against the dollar today, Tuesday, rose 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, Tuesday, January 28, in Damascus and Aleppo, increased to 11 thousand and 400 pounds for purchase from 11 thousand and 500 pounds against the dollar registered in trading yesterday evening, and when the sale increased the price to 11 thousand and 500 pounds from 11 thousand and 600 pounds Against the dollar in trading yesterday evening.
- In Hasaka, the exchange rate of the Syrian pound stabilized against the dollar at 11 thousand and 300 upon purchase and 11 thousand and 400 when selling, which are the same levels recorded yesterday evening.
- In Idlib, the exchange rate of the Syrian pound against the dollar fell to 11 thousand and 350 dollars when purchasing from 11 thousand and 300 pounds against the dollar when purchasing, registered yesterday evening, and upon sale the price fell to 11 thousand and 450 pounds from 11 thousand and 400 pounds.
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 affecting the exchange rate of the Syrian lira
- Syrian banks refrain from pumping the local currency into the market, pushing 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.
- The high quantities offered from the dollar, and the Central Bank of Syria holds the Syrian lira reserves.
- The European Union’s foreign ministers agreed on a road map to accelerate the lifting of sanctions on Syria, the European Union’s foreign policy official, Kaya Callas, announced yesterday.
- 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.
- Reuters quoted a document seen that the Central Bank of Syria directed commercial banks to cancel the freezing of bank accounts except for those frozen under official decisions, including those related to businessmen linked to the regime of ousted President Bashar al -Assad.
- Economy Minister Basil Abdel Hanan told Al -Jazeera Net earlier that there is a plan to stabilize the exchange rate for the stability of the markets and move the wheel of trade.
