Syrian Arab News Agency S A N A
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Damascus, SANA- The Central Bank of Syria (CBS) held on Wednesday a new intervention session attended by representatives of exchange companies and offices to discuss the latest developments in the exchange market and the latest drop in the SYP and to take action to ensure control over the exchange rate at acceptable levels.
CBS Governor Dr. Adib Mayyaleh said at the beginning of the session that the most important reasons for the latest decline in SYP exchange rate is exploiting the news of reducing the number of the Russian troops in Syria by hostile parties to affect the morale of citizens and work to unjustifiably raise the exchange rate especially in light of the positive economic developments, the most notably of which was opening a new border crossing between Syria and Iraq through which more than 150 cars carrying Syrian products to Iraq pass daily, as well as operating the direct sea line between the Syrian and Russian ports to facilitate the export of Syrian products to Russia.
Mayyaleh emphasized that CBS continues intervention in the foreign exchange market through banks and exchange companies.
Mayyaleh stressed that CBS continues to follow up closely the developments of the exchange rate and pump amounts of foreign exchange to cover all market needs.
The CBC held on March 8th an intervention session during which Maiyaleh stressed the need that exchange companies be committed to all instructions and decisions issued by the Central Bank.
Qabas/ Hazem
