SYRIA

Syria Moves Towards A Managed Float Of Its Currency

With the ongoing political upheaval in Syria since March 2011, the value of the Syrian pound is continuing its slide on the foreign exchange market, hitting a low of $1=S£71 on the free market a week ago. Syrian Prime Minister 'Adil Safar has issued a decree authorizing local banks and money changers in the market to freely price the foreign currencies they deal in and effectively introducing a managed float of the pound....