syria trying to ensure stable syrian pound with intervention
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Syria trying to ensure stable Syrian pound with intervention

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Syria trying to ensure stable Syrian pound with intervention

Damascus - XINHUA

After more than six months of inaction and many repetitive confirmations that it would interfere to control prices on the black market, the Central Bank of Syria ( CBS) said it will interfere by the beginning of the next week.The governor of the CBS Adib Mayaleh said his bank will remain the basic player in the foreign exchange market where it will positively interfere to correct any \"deviation \"in the price of the Syrian pound exchange.\"The central bank will sell the foreign currency to the banks and exchange institutions by the prices that it will see fit in a way to guarantee a Syrian stable pound,\" Mayaleh said in a statement issued on Thursday.He added that the first process of the bank\'s interference in the market dealings will start at the beginning of the next week.Mayaleh affirmed that the central bank\'s reserves of the foreign currency are strong.However, media reports suggested that the bank\'s reserves, which were estimated at 18 billion U.S. dollars two years ago, now stands at no more than four billion dollars. And it took the bank several months before deciding to interfere out of concerns that the country\'s reserve of hard currency might drain.The U.S. dollar\'s exchange rate against the pound has broken the record on Wednesday and was sold on the black market at 120 pounds.Last month, the pound sharply depreciated against the dollar and registered the highest rate it has ever reached since the outbreak of the crisis in the country two years ago. It was sold at 125 pounds on the black market but the government\'s confirmation that it will intervene had caused an immediate decline by 10 pounds.Experts blamed the government\'s inaction and failure to revamp the policy of intervention it had often used throughout the past two years.Yet, the economists believe that the government would live up to its pledge this time and would work hard to prop up the price of the pound in order to placate the people\'s concerns and mounting complaints over soaring prices of consumer items which have recently tripled.Most of the food items have become out of reach for many Syrians as their salaries are still unchanged and prices skyrocketed.For example, one kilogram of cucumber is now sold at 150 pounds, up from 35 pounds at the beginning of the crisis.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

syria trying to ensure stable syrian pound with intervention syria trying to ensure stable syrian pound with intervention

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

syria trying to ensure stable syrian pound with intervention syria trying to ensure stable syrian pound with intervention

 



GMT 14:55 2017 Thursday ,08 June

UAE Weather: Temperature may near 49°C today

GMT 08:44 2017 Saturday ,25 November

UAE weather: Temperatures dip to 6.9 °C

GMT 23:29 2017 Tuesday ,07 November

Al Tawosi is not angry for losing Throne

GMT 15:09 2017 Tuesday ,21 March

OECD: New Zealand's 'green' image under threat

GMT 07:26 2017 Tuesday ,07 March

Mai Omar happy for participating with Adel Emam

GMT 23:38 2017 Friday ,26 May

Mai Al-Khalili creates new

GMT 20:53 2017 Thursday ,09 November

Profits edge up for 21st Century Fox

GMT 05:32 2016 Sunday ,08 May

English Premier League results

GMT 16:52 2016 Wednesday ,25 May

Shoukry hails Canada's efforts in regional issues

GMT 12:49 2012 Wednesday ,11 January

Bangalore university to start course

GMT 11:32 2012 Saturday ,03 November

\'Militia attack\' kills 13 in Sudan\'s Darfur

GMT 03:16 2011 Friday ,14 October

All preserved as they were arranged 200 years ago

GMT 16:46 2013 Wednesday ,10 April

Inge Sempre debuts her Vapeur Motif Lamps
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice