The exchange rate of the Syrian pound stabilized today, Wednesday, against the dollar in official transactions and the parallel market, after it witnessed an increase yesterday.
Parallel market transactions
- The exchange rate of the Syrian pound stabilized today, Wednesday, in Damascus and Aleppo at 11,400 liras against one dollar for purchase, and 11,700 liras when selling.
- The exchange rate of the Syrian pound compared to the dollar today in Idlib (northwestern Syria) remained at 11,450 pounds for purchase, and 11,650 for sale, which are the levels recorded yesterday evening.
- In Al-Hasakah, the exchange rate range stabilized at 11,400 for purchase, and 11,600 liras for sale.
The exchange rate of the lira at the Syrian Central Bank
At the Central Bank, the exchange rate of the Syrian pound stabilized today, Wednesday, at 13,000 for purchase against the dollar, while it recorded 13,130 pounds for sale against the green note (dollar).
Factors affecting the performance of 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 a 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.
- French Foreign Minister Jean-Noel Barrot said last week that the EU sanctions on Syriawhich is hindering the delivery of humanitarian aid and the country’s recovery, may be lifted quickly.
- Six European Union member states called on the bloc to temporarily suspend sanctions imposed on Syria in sectors such as transport, energy and banking, according to Reuters.
- European Union foreign ministers are scheduled to discuss easing sanctions on Syria during a meeting in Brussels on January 27.
- The Syrian Minister of Trade in the Syrian caretaker government, Maher Khalil Al-Hassan, stated – in an interview with Al Jazeera Net – that customs duties in most of them will witness a decrease, perhaps reaching more than 50% or 60% in some of them, stressing that this will be reflected directly and positively on prices. Goods in the markets.
- A few days ago, the US Treasury issued a license to Syria (an exception to the sanctions) allowing transactions with government institutions and some energy transactions, and allowing the transfer of personal funds to Syria, including through the Syrian Central Bank.
- Maysaa Sabreen, the Governor of the Central Bank of Syria in charge of conducting business, said If you allow United States of America With personal remittances from Syrians abroad, it was a positive step, calling for the sanctions to be completely lifted so that the banking sector can connect to the global financial system.
- The governor of the Central Bank of Syria said that the bank has enough money in its coffers to pay public sector salaries after the 400% increase pledged by the caretaker government.
- Caretaker Finance Minister Muhammad Abazaid told Al Jazeera that the foreign debt ranged between $20 and $23 billion, in addition to “billions of domestic debts.” He added that they had inherited “a dilapidated state with empty coffers and huge debts,” and that the Assad regime had “no records.” You can return to it.”
- 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.
