The stability of the exchange rate of the Syrian pound against the dollar today, Monday economy

Today, Monday, it stabilized relatively against the US dollar in parallel market transactions, while it recorded stability in official transactions, according to the Central Bank bulletin.

Parallel market transactions

• The exchange rate of the Syrian pound stabilized today, Monday, January 20, in Damascus, at 11,900 pounds upon purchase and 12,100 pounds against the dollar, which are the levels recorded yesterday.
• In Aleppo, register The exchange rate of the Syrian pound today, MondayBuying 12 thousand and selling price at 12 thousand and 200 liras against the dollar, which are the same levels recorded yesterday evening.
• The exchange rate of the Syrian pound rose – today, Monday – against the dollar in Idlib Slightly to 12 thousand compared to 12 thousand and 50 liras upon purchase recorded yesterday, while the selling price fell to 12 thousand and 100 liras against the dollar from 12 thousand and 150 liras against the dollar.
• In Al-Hasakah, the exchange rate of the Syrian pound rose today, Monday, against the dollar to 11,900 liras when buying from 12,100 liras recorded yesterday evening, and when selling, it rose to 12,000 from 12,200 liras against the dollar.

The exchange rate of the lira at the Central Bank of Syria

At the Central Bank, the exchange rate of the Syrian pound stabilized today, Monday, at 13,000 for purchase against, while it recorded 13,130 pounds for sale against the green note (dollar).

Factors affecting support for the lira

• Syrian banks and banks refrained from pumping the lira into the markets, and thus merchants and factory owners were forced to sell the dollar in exchange for obtaining the lira from the parallel market to cover their expenses.
• The government is holding on to limited amounts of the Syrian pound to fulfill its commitment to pay the 400% increase in employees’ salaries starting in February 2025, which has increased the government’s demand for the Syrian pound.
• The supply of dollars increases, and the central bank holds on to lira reserves.
• The Syrian currency also supported the call of 6 European Union member states to temporarily suspend sanctions imposed on Syria in sectors such as transport, energy and banking services.
• The Syrian Minister of Trade in the Syrian caretaker government, Maher Khalil Al-Hassan, stated – in an interview with Al Jazeera Net – that most of the customs duties will witness a significant decrease, stressing that this will be reflected directly and positively on the prices of goods in the markets.
• America has eased sanctions on Syria, allowing transactions with government institutions and some energy transactions, and allowing the transfer of personal funds to Syria, including through the Syrian Central Bank.
• The Governor of the Central Bank of Syria, Maysaa Sabreen, said that allowing personal transfers from Syrians abroad was a positive step, calling for the sanctions to be completely lifted.
• The governor of the Central Bank of Syria said that the bank has enough money to pay public sector salaries after the 400% increase pledged by the caretaker government.
• Economy Minister Basil Abdel Hanan spoke to Al Jazeera Net earlier last month about a plan regarding the lira, saying that the main goal is first to stabilize the exchange rate in order to stabilize the markets and move the wheel of trade exchange.