The official exchange rate for the dollar in Syria has been updated to 11,000 Syrian pounds.

The Central Bank of Syria announced in its official daily bulletin issued today, Tuesday, May 13, a modification of the exchange rate of the US dollar to be 11,000 Syrian pounds, as part of the periodic updates directed to licensed banks and exchange companies.

This adjustment was made through an official bulletin published on the bank's website, including exchange rates of more than 30 foreign currencies against the Syrian pound, including the Euro and the Turkish Lira.

This action follows a significant improvement in the exchange rate of the Syrian pound in the parallel market, where its value recently ranged between 9,600 and 10,450 Syrian pounds per US dollar.

Decrease in Euro and Turkish Lira prices in the parallel market

In a related context, the Euro witnessed a decline in the unofficial market, recording 11,771 pounds for buying and 11,887 pounds for selling, while the Turkish Lira was at 271 pounds for buying and 276 pounds for selling.

It is worth mentioning that the Central Bank had fixed the official exchange rate of the dollar in the past few days at 12,000 pounds for buying and 12,120 pounds for selling, before adjusting it in today's issued bulletin.

Flexible measures to support cash liquidity

As part of the new monetary policies, the Central Bank issued a decision allowing unlimited withdrawals from current accounts deposited after May 7, in any currency and amount without time restrictions or financial limits.

The Central Bank also granted banks and licensed exchange companies a flexible margin in determining exchange rates within a specific range around the official rate, to enhance market movement and meet the needs of foreign currency traders.