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Central Bank Sells Millions in Foreign Currency

Central Bank governor says measure taken have reduced the exchange rate of the Syrian Pound which hit a high this week
Central Bank Sells Millions in Foreign Currency

The Central Bank of Syria (CBS) on Tuesday resumed selling foreign currency to banks to fund imports, selling USD 80 million at 175 SP to the dollar.


Governor of the Central Bank Adib Mayalah told SANA that the CBS also will sell 50 million Euros to exchange companies to finance non-commercial transactions.He said the CBS will also sell foreign currency to individual citizens at a daily set price, and limited to 1,000 Euros per month.


Mayalah noted that the dollar exchange rate in the black market dropped by SYP 30 due to the measures taken on Tuesday, and said that the CBS will continue taking steps to stabilize exchange rates.


Translated and edited by the Syrian Observer


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