"And I have found both freedom and safety in my madness, the freedom of loneliness and the safety from being understood, for those who understand us enslave something in us. But let me not be too proud of my safety. Even a Thief in a jail is safe from another thief. "

Khalil Gibran (How I Became a Madman)



Thursday, May 26, 2016

Intervention exchange price decreased to SYP 565 per 1 USD- SANA

Damascus, SANA – The Central Bank of Syria (CBS) announced decreasing, once again, the intervention exchange price to SYP 565 per 1 USD at the foreign currency market.
In its statement on Thursday, the CBS explained that each exchange company is committed to purchase USD 1 million, while each exchange office is committed to purchase USD 100,000.
Companies and offices have to sell the purchased foreign currency immediately to citizens without commissions under the penalty of closing the company or the office if the purchase process is not completed, according to the statement.
The CBS also set the exchange rate for transfers at SYP 575 per 1 USD and for financing imports at SYP 565 per 1 USD.
Earlier on Wednesday, the CBS announced that the latest intervention plan which it started on May 10th has achieved a tangible decrease in the exchange price which reached SYP 70 per 1 USD, indicating that this should be reflected absolutely on the prices of the goods in the market.