DAMASCUS, (SANA) - The SYP/USA exchange rate continued stable at 47,69 for the third month in a row while the Euro started off the weekly trading at 68,43 and closed at SYP 66,65, recording a 2,60 % decrease.
According to the Central Bank of Syria (CBS) report on Wednesday, the SYP preserved its stability against the USD due to the CBS measures taken to support the SYP exchange rate including the cabinet's decision which allows the Syrian citizens to purchase foreign currencies by less than USD 10,000 monthly to meet their needs of foreign currency.
Other measures included activating the cabinet decision no. 5936 for 2011 which allows opening USD currency saving accounts, raising interest rate on deposits in SYP and allowing the banks to purchase the USD directly from the CBS to meet their needs of foreign currency.
Dealing with Euro in the local market is still limited due to the fluctuation of its exchange rate and the international doubt in its ability to compete with Dollar.
© SANA (Syria Arab News Agency) 2011
