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Central Bank of Syria
Central Bank of Syria(DP-News-Internet)

Central Bank of Syria weekly report

(Dp-news - Sana)

DAMASCUS- According to the Central Bank of Syria (CBS) weekly report, the CBS has continued steps to support the exchange rate of the SYP as it started last September 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 foreign currency.

The report indicated that SYP/USD opened the week's trade at 54.57 and closed at 54.69, recording a 0.22 % rise, while the Euro started off the weekly trading against the SYP at 73.06 and closed at 73.07 with an increase of 0.013 %.



The Central Bank continues to meet the market's needs of different currencies to keep the exchange processes going on and prevent any freeze due to the imposed sanctions.

It has also included the Chinese Yuan in its daily exchange rates bulletin since last September to facilitate trading in light of heading eastward, particularly towards China.

The CBS continued steps 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 fixed the SYP exchange rate against Dollar since the crisis started.

The local market is witnessing a remarkable improvement in the trading in the Euro after the CBS decision to stop dealing in the Dollar and shift to other currencies.

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