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 Syria Central Bank
Syria Central Bank

USD drops against SYP by 0,36 %

( DP-News - SANA)

DAMASCUS- According to the Central Bank of Syria (CBS) weekly report; SYP/USD opened the week's trade at 49.85 and closed at 49.67, recording a 0.36 % drop, while the Euro started off the weekly trading against the SYP at 66.68 and closed at 68.42 with an increase of 2.5 %.

The weekly report indicated that CBS has recently started to move the SYP/USD exchange rate in accordance with the global exchange rate movements in a way that reflects the changes in the local supply and demand of Dollar.

The CBS decision came after the recent US sanctions which led Syria to replace the Dollar with other currencies. This move ensures better stability of the SYP exchange rate against other foreign currencies after the CBS had fixed the SYP exchange rate against Dollar since the crisis started.



The CBS keeps amending the market's needs of different international currencies in order to keep the exchange processes going on and to prevent any drop due to the sanctions that have been imposed on Syria.

The local market is getting an improvement that is remarkable at Euro exchange rate. This development comes after the CBS decision to stop dealing in the Dollar and to shift toward other currencies.

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