Syrian Arab News Agency S A N A
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Damascus, SANA – The Central Bank of Syria (CBS) will hold an intervention session for selling foreign currency on Tuesday as part of its efforts to stabilize the Syrian Pound exchange rate.
Governor of the CBS Adib Mayyaleh told SANA that the session will be attended exclusively by general directors, heads or members of the board of directors, or one of the principal owners of currency exchange companies.
He added that failing to attend and participate in the intervention session without an acceptable excuse would violate rules and regulations of exchange companies, and therefore would entail fines and penalties.
Earlier last week, the CBS held an intervention session in which it offered to sell USD 25 million to licensed exchange companies, with the Bank voicing readiness to fund an surplus in the market’s needs of foreign currency and stating that USD 50 million will be made available for purchase during this week.
Hazem Sabbagh
