Slight Improvement in Value of Pound

After months of continuous falls in the value of the Syrian pound, and after a fresh milestone was reached in recent days, the price saw a small uptick on Wednesday reports Brocar Press.

The value of the Syrian pound improved slightly on Wednesday, after it had previously surpassed 2,000 pounds to the dollar in the past two days.  

The US dollar in Damascus was at 1,750 pounds for selling and 1,730 for buying. The Euro sold at 1,917 pounds, with a rate of 1,890 for buying. The Turkish lira was at 258 Syrian pounds for selling and 253 Syrian pounds for buying. 

In Aleppo, the dollar sold at 1,740 Syrian pounds and was bought at 1,720 pounds. The Euro was at 1,906 pounds for selling and 1,879 for buying. The Turkish lira stood at 256 Syrian pounds for selling and 251 Syrian pounds for buying. 

In Idleb the dollar sold at 1,750 Syrian pounds and was bought at 1,700 pounds. The Euro was at 1,917 pounds for selling and 1,857 for buying. The Turkish lira stood at 258 Syrian pounds for selling and 248 Syrian pounds for buying. 

The Central Bank of Syria said in a new statement that the value of the Syrian pound had dropped significantly in recent days “due mainly to the exploitation of speculators and manipulators,” indicating that this also came during the coronavirus pandemic and its economic impacts. 

In its first move since the pound’s freefall, the Central Bank spoke in a publication on Tuesday evening on the implementation of comprehensive field missions on all exchange institutions and money transfer companies, as well as those working with currencies other than the Syrian pound.

 

This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.

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