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The improvement of the pound in some provinces reached 30 percent, amid high demand for the sale of the dollar and the purchase of the Syrian pound by citizens and merchants.
© Sputnik. Yousif Badawi
As reported by social media pages, the exchange rate of the dollar against the pound in the Syrian market has dropped to about 3,100-3200 pounds after hitting the threshold of 4,800 pounds a few days ago.
The economist, Dr. Shadi Ahmed, told “Sputnik” that the speculative operations in the market caused the transformation of the surplus in the supply of the lira to a greater demand, in his answer to the question of the agency “Sputnik” if it existed. an injection of hard currencies in the market, the reason for this improvement or are the factors of supply, demand and market forces.
Ahmed said: “There are several factors for the improvement of the Syrian pound against the dollar, the first of which is that the Central Bank has completed the necessary contracts for some time, for the materials necessary for the Syrian economy, and this made The comfortable situation in monetary terms so that there is no demand by any informal for the dollar ”.
He added: “The second reason is that the speculation operations in the last period have led to the drought of the Syrian pound surplus market, and therefore the surplus supply has been reflected in a demand.
As for the third issue, it is because this season (spring) there will be no pressure on import bills, and therefore there is consolation in the market in this matter, but this does not mean that this improvement will be maintained. It is continuous, but is current, and for its continuity there must be interactions between the different institutions and between the citizens who resort to exchanging the pound for dollars to preserve their savings (of course I am not referring to the poor, but to a certain class ) and for some time a campaign was carried out by the central in certain points of sale such as the free zone and some stores for speculators, and I also believe that the issue of stopping importing mobile phones and accessories in a country that needs foreign exchange to secure their needs was a wise decision. ”
It is noteworthy that despite the US blockade suffered by Syria and the sanctions, work is being done to achieve self-sufficiency by supporting local production operations in the country.
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