VOL. XLI

No. 33

17-August-1998

SYRIA

Syria Unifies Exchange Rate And Publishes 1998 Budget

Following approval of the first Syrian budget based on a unified exchange rate of$1=S45.5, the Governor of the Central Bank of Syria, Dr. Muhammad Bashar Kabbarahannounced on 10 August a 2.17% devaluation of its "neighboring countries' exchangerate" bringing the buying rate to $1=S46. In an interview with Reuters, Dr.Kabbarah said that the selling rate for the Syrian pound will be set at $1=S46.5 and...