CBS: Recent intervention measures lead to relative stability in SYP exchange rate

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Damascus, SANA- The Central Bank of Syria (CBS) said on Thursday that its recent intervention measures have led to a relative stability of the SYP exchange rate, recovering by about 200 SYP compared to previous levels before the start of the recent intervention plan.

In a statement of which SANA received a copy, the CBS added that the exchange rate has responded strongly to the decrease done by the bank this morning which clearly led to its reduction in the black market.

The CBS reiterated that its measures led to reducing the gap between prices and curbed speculative opportunities and illegal profits.

The Central Bank of Syria reduced the exchange rate of transfers to SYP 485 for 1 dollar while the intervention price in the foreign exchange market and the exchange rate to finance imports remained at SYP 470 for 1 dollar.

Qabas/ Manal