CBS: SYP/USD exchange rate improved after intervention, measures will continue
Governor of the Central Bank of Syria (CBS) Adib Mayala said the currency exchange market has witnessed an improvement in the exchange rate of the Syrian Pound (SYP) against the US Dollar (USD) due to the recent measures taken by the Bank.
A number of intervention sessions have been held by the CBS since Eid al-Adha holiday two weeks ago to control the market and rebalance the exchange rate following increases.
In a session held on Thursday, Mayala reviewed a set of measures which the CBS has been following to increase the percentage of covering the demands submitted through license banks in the country for financing imports and the intensive positive intervention carried out by the Bank to meet those demands, measures which the CBS will continue as the Governor stressed.
Mayala also stressed the CBS’s intention to continue intervening in the market on a daily basis so as to help keep the exchange rates stable and prevent speculators from manipulating them