Middle East Economic Survey
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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