The exchange rate of the Syrian pound against the dollar increased today, Wednesday, 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 lira against the dollar today in Damascus and Aleppo increased to 11 thousand and 300 pounds for purchase from 11 thousand and 350 pounds against the dollar registered in trading yesterday evening, and when the sale increased the price to 11 thousand and 400 pounds from 11 thousand and 450 pounds against the green currency in evening trading yesterday.
- In Idlib, the exchange rate of the lira against the dollar increased to 11 thousand and 350 when purchasing from 11 thousand and 400 pounds against the dollar when purchasing, registered yesterday evening, and upon sale the price rose to 11 thousand and 450 pounds from 11 thousand and 500 pounds.
- In Hasaka, the exchange rate of the lira against the dollar increased to 11 thousand and 250 pounds when purchasing from 11 thousand and 350 upon sale, registered yesterday evening, and upon sale it rose to 11 thousand and 350 pounds from 11 thousand and 450 pounds against the dollar.
The exchange rate of the lira at the “Central”
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 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 maintains 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 lira.
- The high quantities offered from the dollar, and the central bank holds the lira precautions.
- 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 Assad regime.
- 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.
