CBS sells a quantity of USD 50 million to money-exchange companies with SYP 296  against 1 dollar

Damascus, SANA- Central Bank of Syria (CBS) held on Tuesday a session for selling a quantity of USD 50 million to licensed exchange companies at SYP 296 against 1 dollar.

Governor of CBS Adeb Mayaleh said that the session aims at rebalancing the foreign exchange rate through increasing the volume of the foreign currency in the markets to meet any real demand whether for commercial purposes or other purposes such as “learning or treatment abroad.”

Speaking at a press conference after the session, Mayaleh asserted that selling this quantity of USD with a remarkable price came to fund imports and prevent merchants from resorting to the parallel market.