Apr 20 2011 |
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CBS: SYP Exchange Rate against USD Stable in Its 3rd Week
By R. Raslan/ H. Said Damascus - The SYP/ USD exchange rate continues stable at 47,69 for the third week in a row, while the Euro started off the week's trading at 68,74 and closed at 69,18, recording a 0,64 % increase.According to the Central Bank of Syria ( CBS ) weekly report, the increase in Euro exchange rate against the SYP is attributed to the fact that the Euro hit record high against the US dollar over the week, soaring to its highest levels within 15 months as the European Central Bank raised the interest rate in the Euro zone coinsiding with a slip in the USD exchange rate against most of the major currencies.
The stability of the SYP exchange rate against the US Dollar can be attributed to the measures taken by the CBS to support its exchange rate under the conspiracy aimed at destabilizing Syria's national economy, the report added.
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