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No Plans to Replace National Currency: PM

Halqi also dismisses rumors of nationalization of private banks
No Plans to Replace National Currency: PM

Prime Minister Wael al-Halqi denied rumors that the government plans to replace the Syrian national currency and dismissed rumors about the nationalization of private banks as "completely out of question."


In a statement on Thursday, Halqi said that the intervention of the Central Bank of Syria (CBS) had prompted the U.S. Dollar exchange rate against the Syrian pound to drop by 50 SP within hours, affirming that intervention will continue so as to return the exchange rate to acceptable levels.


Halqi stressed that the monetary policy is sound, expressing confidence in the measures undertaken by the Monetary and Credit Council.


Translated and edited by The Syrian Observer


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