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Under the supervision of the Central Bank of Syria .. The implementation of the initiative (two currencies my power)

2019-10-13T17:50:23.119Z


Damascus-SANA Under the supervision of the Central Bank of Syria and within the framework of the implementation of the initiative (two currencies of my strength) to support the Syrian pound began a trap


Damascus-Sana

Under the supervision of the Central Bank of Syria and in the framework of the implementation of the initiative (two currencies of my strength) to support the Syrian pound licensed exchange companies began this evening to withdraw funds in US dollars from the initiative account opened by the Damascus Chamber of Commerce in the branch of the Commercial Bank of Syria 18 in order to intervene in the foreign exchange market.

In a statement, the branch manager Shatha Hakim said that representatives of a number of exchange companies have withdrawn this evening in US dollars according to checks issued from the initiative of the businessmen sector open to the branch by the Damascus Chamber of Commerce.

Hakim pointed out that according to the initiative (My Currency My Power), businessmen deposited amounts in US dollars in an account to the Damascus Chamber of Commerce with Branch 18, to get the value of these amounts in Syrian pounds at an average price between the official price and the parallel market price, indicating that the initiative is still open and deposits continue amid High turnout of businessmen.

For his part, Director General of the United Exchange Company Aboud Youssef pointed out that according to the initiative (my currency my strength), which is supervised by the central mechanism of the implementation of the exchange companies that have withdrawn amounts of dollars from the initiative account with the Syrian Commercial Bank to sell this dollar at a price near and below the price in the parallel market in order to rein Speculate it.

Yousef explained that segments of the community, whether they are traders or citizens, can apply to exchange companies to buy dollars, which in turn deposit funds paid by them to one of the branches of the Commercial and get notices and delivered to the Damascus Chamber of Commerce, which in turn, issuing checks in dollars for exchange companies to be disbursed from an account Initiative and pay it to anyone who offers to buy a dollar.

Youssef pointed out that the repetition of this process necessarily lead to breaking the parallel market price and reduce it, noting that the intervention price of exchange companies today is 625 Syrian pounds per dollar, expecting that there will be a large turnout of citizens and traders to buy dollars from exchange companies.

For his part, CEO of Raed Fatina Exchange Talal Baddounis pointed out that the initiative (My Currency My Power) aims primarily to reduce the dollar price in the parallel market and to remove traders and citizens from this market by providing an alternative to them through exchange companies that will sell them dollar semi-open ceilings.

He pointed out that there is a large turnout of traders to exchange companies to buy the dollar at the price of 625 pounds per dollar expected that the exchange rate in the parallel market will fall to less than 600 pounds to the dollar as a result of this initiative during the next short period.

Handsome Adawi

Source: sena

All news articles on 2019-10-13

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