The exchange rate of the Syrian pound against the dollar increased in trading today, Wednesday, in the parallel market amid a state of concern as a result of the confrontation between Israel and Iran, while the Central Bank of Syria established the exchange rate in official transactions.
The Syrian pound recorded an accidental performance after the United States, the European Union and Japan announced the lifting of sanctions on Syria, which lifted the Syrian currency from the scope of 12 thousand pounds to the dollar.
The US dollar index fell 0.1% in the latest transactions against a basket of major currencies in the world with the anticipation of the Federal Reserve (US Central) today, in addition to the repercussions of the confrontation between Israel and Iran.
The exchange rate of the Syrian pound against the dollar
- The price of the Syrian pound against the dollar increased in the parallel market in Damascus, Aleppo and Idlib upon purchase to 9850 from 9900 pounds, and at the sale increased to 9950 from 10 thousand pounds per dollar yesterday evening and morning today.
- In Hasaka, the exchange rate increased to 10 thousand pounds when purchasing from 10 thousand and 50 pounds, and the price increased to 10 thousand and 100 pounds against the dollar from 10 thousand and 150 pounds.
- The Central Bank of Syria has established the exchange rate of the lira in official transactions at 11 thousand for purchase and 11 thousand and 110 pounds when selling.
The exchange rate of the Syrian lira is increasing by 50 pounds for each dollar in the parallel market (Getty)
IMF
A team from the International Monetary Fund visited Syria for the first time since 2009 to assess the economic and financial conditions in the country, and said that Syria will need great international assistance to support the efforts of the authorities to rehabilitate the economy.
Syria is heading towards floating a orbit for its currency, according to the governor of the Syrian Central Bank, Abdel Qader, exclusive to the British Financial Times this month.
The orbit floating means the central bank’s intervention in the markets in sale of foreign currency or purchase in specific cases that sometimes include high altitudes or decreases in the exchange rate or severe fluctuations at the exchange rate, in a way that confuses local markets.
Swift
He said exclusive, that his country will return to the full link to the Swift system for international payments “within weeks”, which re -linking the country to the global economy after 14 years of the war and the sanctions that made it a pariah state.
He added that the return of the Swift regime will contribute to encouraging foreign trade, reducing import costs and facilitating exports, and will also contribute to bringing in foreign currencies that are intensified in the country, enhancing efforts to combat money washing, and alleviating dependence on informal financial networks in border trade.
