Central Bank Sells Foreign Currency at Fixed Price

The move is part of the Central Bank's intervention policy to stabilize the Syrian Pound

Governor of Central Bank of Syria Adib Mayyaleh on Tuesday said the bank had sold a quantity of foreign currency to 10 exchange institutions at a rate of 173.27 SP against the US dollar to cover market needs during the period 13  – 19 August.


The move comes as part of the bank's intervention policy to stabilize the price of the Syrian Pound.


Mayyaleh met representatives of the banks licensed to deal with foreign currencies, permitted to resell foreign currency to Syrian citizens at a rate of 175 SP to the dollar, for non-commercial purposes.


"According to the new measure, people have the right to go to private banks to buy the foreign currencies for non-commercial purposes at the price fixed by the Central Bank," Mayyaleh said.


He said the Central Bank is committed to funding the purchase of basic imports, through the banks, at fixed prices.


Translated and edited by The Syrian Observer



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