The exchange rate of the Syrian pound against the dollar today increased significantly in the parallel market transactions in various Syrian cities, while the Central Bank of Syria continued to stabilize the exchange rate in official transactions.
The exchange rate of the Syrian lira in the parallel market
- The exchange rate of the Syrian pound against the dollar in Damascus, Aleppo and Idlib increased to 12 thousand and 50 pounds when purchasing from 12 thousand and 450 pounds registered yesterday evening, and increased to 12 thousand and 150 pounds upon sale from 12 thousand and 550 pounds.
- The exchange rate of the lira in Hasaka increased to 12 thousand and 200 pounds when purchasing from 12 thousand and 700 pounds, and the price increased to 12 thousand and 300 pounds from 12 thousand and 800 pounds registered yesterday evening.
The exchange rate of the Syrian lira in official transactions
The Central Bank of Syria has established the exchange rate of the Syrian pound in official transactions against the dollar at 12 thousand when buying, and 12 thousand and 120 pounds upon sale, according to the sources published today.
Factors affecting the exchange rate of the Syrian lira
- Arab financial support for Syria
Qatar and Saudi Arabia announced that they will pay the financial arrears of Syria with the World Bank, which is estimated at 15 million dollars, which paves the way for Damascus to benefit from financial grants of millions of dollars allocated for reconstruction and strengthening the public sector.
- Britain reduces restrictions on Syrian institutions
In a remarkable step, Britain recently canceled the freezing of assets imposed on the ministries of defense and interior in Syria, in addition to a number of intelligence services, and has removed 24 Syrian entities from the sanctions list, including the Central Bank and banking and oil institutions, which allowed them to restore access to their frozen assets.
- The European Union reviews its position on the sanctions
The European Union is considering extending the suspension of the sanctions imposed on Syria, stressing that it is closely monitoring the developments taking place in the country.
- A temporary American domination of sanctions
The United States temporarily suspended some sanctions imposed on Syria, which allowed financial transactions with government institutions and the energy sector, and also allowed the transfer of personal funds, including through the Central Bank of Syria.
- The return of the IMF to Damascus
Syrian Finance Minister Mohamed Youser Burniyah announced that the International Monetary Fund has appointed Ron van Roden as head of the fund’s first mission to Syria in 14 years, in a move indicating a development in the relationship between the two sides.
- An official amendment to the exchange rate
The Central Bank of Syria raised the official exchange rate of the wira against the dollar to 12 thousand pounds when purchasing, and the price is still proven at this level so far.
- Flexibility in the exchange market
The Central Bank of Syria allowed banks and exchange companies licensed to determine exchange rates within a specific margin of the official price, in a move aimed at organizing the market and narrowing the gap between the official and parallel price.
