VOL. XL

No. 29

21-July-1997

SYRIA

Syria Moves A Step Further In Unifying Exchange Rate

Syria has moved one small step closer to unifying its disparate exchange rates bybringing the official rate of exchange closer to its free market float. A specializedcommittee set up for this purpose has set the primary rates of the US Dollar against theSyrian Lira at LS45 (bid) and LS45.5 (offer), up from LS43.5 and LS44 previously, comparedto the widely used black market rate of roughly $1=LS50. The...