Damascus-SANA
The Directorate of Banking Operations at the Central Bank of Syria decided to issue two daily bulletins under the name “Remittance and Exchange Bulletin” and “Business Bulletin.”
According to a decision issued by the Directorate, which SANA received a copy of today, the remittance and exchange bulletin applies to the following uses: “purchasing foreign exchange in cash from natural persons through exchange companies and operating banks licensed to deal with foreign exchange,” and “purchasing foreign commercial remittances and inward remittances for natural persons and remittances.” received through global transfer networks”, and “evaluation of the periodic financial statements of licensed and exchange companies”.
According to the decision, unlike the foregoing, “the relevant decisions are applied where the banks’ bulletin replaces the banks’ and exchange’s bulletin,” and “the delivery price of transfers to legal persons mentioned in the banks’ bulletin replaces the delivery price of personal transfers mentioned in the banks’ and exchange’s bulletin, and it applies to the purchase of incoming transfers.” For legal persons from abroad that are not included in this decision.
The Directorate indicated that any decisions contrary to this decision are considered de facto amended, and the decision is effective from today's date.
According to the remittance and exchange bulletin No. 1 issued today, the Central Bank set the exchange rate of the Syrian pound against the US dollar at 6650 pounds per dollar, and against the euro at 7328.97 per euro.
In a comment on the aforementioned decision, the Central Bank clarified on its Telegram channel that a new exchange rates bulletin was approved under the name of the Remittances and Exchange Bulletin, according to which banks and exchange companies are allowed to deliver the values of incoming external transfers and to disburse “cash” amounts according to an exchange rate close to the trading price, i.e. “ The price is determined according to supply and demand in the informal market.
The Central Bank affirmed that this decision achieves important advantages in addition to adjusting the price of remittances and exchange, which is “facilitating direct exchange operations with banks and raising the exchange rate for incoming transfers through global transfer networks such as Western Union.”
Wassim Al-Adawi
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