The Syrian pound rises on the ruins of Rami Makhlouf


Significant improvement in the exchange rate of the Syrian pound since the issuance of the decisions to seize Rami Makhlouf’s funds on Tuesday, also in conjunction with a move by the Syrian regime government to control the local exchange market in its areas of control during the past two days.

The lira recorded a record high Thursday morning against hard currencies, exceeding five percent, to reach its price against the dollar 1619 and the euro 1750.

The exchange rate of the lira on the black market has exceeded 1,800 pounds against the dollar on Tuesday morning, with the crisis between the regime and the most famous businessman in Syria, Rami Makhlouf, reaching its climax, before starting to gradually rise with the announcement of the decision of the Damascus government to reserve reserves for Makhlouf’s money.

It was clear that the exchange markets received this decision as a victory for Assad, and a decisive struggle for the one that led to the loss of the Syrian pound more than ten percent of its value since the beginning of May this year, and this was reflected in an immediate increase in the exchange rate of the lira starting from Tuesday noon, knowing that the price of the lira It remains below the level before the start of the Assad-Makhlouf crisis.

It was also noted the absence of variation in exchange rates between one region and another in Syria, where the markets of Damascus, Aleppo, Idlib and Northeast of the country recorded a unified price during the past two days, after the discrepancy between them in previous days reached more than fifty pounds.

In conjunction with the issuance of the decisions to seize Rami Makhlouf’s funds, the central bank launched a campaign to tighten control of exchange companies and stores in the regime-controlled areas, where some of the licensed offices in Damascus were closed without clarifying the reasons, but the regime’s media claimed that the campaign aims to stop speculative operations and reduce fraud Merchants at the exchange rate.

In turn, economic analysts in the opposition assured Al-Modon that the regime has been the primary beneficiary of speculation in the market, and that its recent move aims to stop the exchange rate collapse that had serious moral effects on the system externally, as well as between citizens within the areas it controls And this move and its positive repercussions on the lira reinforces his latest narration, in which Rami Makhlouf held a large part of the responsibility for the low exchange rate of the lira.


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