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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.
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, Shadi Ahmed, told “Sputnik” that “speculation operations in the market caused the transformation of the surplus in the supply of the lira to a higher demand, in his answer to the question of the agency” Sputnik “if there was an injection of foreign exchange 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 speculative operations in the last period have caused the market to dry up because of the surplus of the Syrian pound and therefore the surplus supply has turned into a demand.”
Regarding the third issue, it is because this 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 continue to be continuous, but rather it is current, and for its continuity there must be interaction between various institutions, and between citizens who resort to exchanging lira for dollars to preserve their savings, and for some time a campaign has been carried out by the Central Bank on certain points of sale such as the free zone and like some stores for speculators, and I also believe that the issue of stopping the importation of mobile phones and luxuries in a country needs foreign exchange to ensure its needs. It was the right 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.
