Central Bank of Syria Sets Exchange Rate for Syrian Pound Against Dollar and Euro
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The Central Bank of Syria Sets Exchange Rates for Syrian Pound
The Central Bank of Syria has announced the exchange rates for the Syrian pound against major currencies. For remittances and exchanges, the exchange rate against the dollar has been set at £10,900. Similarly, the exchange rate against the euro has been set at £11,850.48. These rates were released in the Money Transfer and Exchange Bulletin by the Central Bank.
Purpose of the Bulletin
The Central Bank issues this bulletin to facilitate cash transactions, purchase commercial foreign transfers, and receive incoming transfers from individuals, including transfers through global transfer networks.
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Impact of Crisis on Syrian Pound
It is important to note that prior to the start of the crisis in 2011, the value of the Syrian pound was 47 against the dollar. The current exchange rate reflects the economic challenges faced by the country.
Raise in Salaries and Wages
In a recent development, Syrian President Bashar al-Assad has issued a decree to increase salaries and wages by 100% for all civil and military employees in the state.
Source: “SANA”
