Middle East Economic Survey
VOL. LIV
No 45
7-Nov-2011
syria
CBS Auctions Dollars To Stabilize Forex Market
The Central Bank of Syria (CBS) has for the second time resorted to selling the US currency by auction in a bid to determine a market value for the Syrian pound. The first auction was held on 27 October and resulted in the sale of $5mn at the exchange rate of $1=S51.30, and the second auction on 2 November covered the sale of $13.5mn at the exchange rate of $1=S51.25. CBS Governor Adib...
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