The sale price of the US dollar was 4,000 Syrian pounds, while the purchase price reached 3,950 Syrian pounds today, Tuesday, March 2, according to the site “The lira today“Specialized in exchange rates and gold.
This is expected to contribute to a further deterioration of the living and economic conditions and the rise in prices in various sectors, amid the absence of financial decisions from the Syrian regime’s government to control the exchange rate, and its resort to security means.
On February 23, the head of the Syrian Financial Markets and Securities Commission, Abed Fadliya, said in a statement to Radio:Melody FM“The difficulty of fixing the exchange rate of the Syrian pound now due to the lack of Syria’s imports of foreign exchange,” he said, adding that “the entire banking system is confusing because of the sanctions.”
He explained that any central bank in the world “cannot establish and maintain an exchange rate unless it has a stock of foreign exchange.”
Government officials attributed the recent deterioration of the Syrian Pound, which began after the introduction of a new five thousand Syrian Pound banknote for circulation, to the rumors related to the offering of that note, to “the presence of fingers playing in the market”, the existence of differences between the prices of money changers and speculators, and the increase in demand The dollar in order to pay for the goods in foreign currency.
The Central Bank took “a set of measures to intervene in the foreign exchange market in an attempt to restore stability and achieve balance in it, in cooperation and coordination with the concerned authorities,” after “developments in the foreign exchange market” and the “changes” it carried in the exchange rate of the Syrian pound, according to A statement of the current February 14.
The procedures were represented by the implementation of the “Anti-Money Laundering and Terrorism Financing” and the judicial police, a number of “missions” in various governorates, specifically in Damascus, Hama and Aleppo, according to the statement.
The measures, according to the Central Agency, resulted in “seizing control of a group of companies and entities Which operates with speculation on the Syrian pound, ”in addition to“ confiscating large amounts of money in the Syrian pound and the American dollar. ”
The Central Bank of Syria had offered new five thousand Syrian pounds of banknotes for circulation in the market, as of January 24.
Gold prices continue to rise
The continuous depreciation of the Syrian pound leads to an increase in official gold prices and prices in the market, despite the decline in gold prices globally.
وبحسب The Bulletin The official issued by the “Craft Association for Handcraft and Jewelry Making in Damascus,” today, the selling price of a 21-karat gram of gold is 190,000 Syrian Pounds, and the purchase price is 189,500 Syrian Pounds.
While the selling price of a gram of 21 carat gold in the market reached 194,135 pounds, and the purchase price of it was 191,756 Syrian pounds, according to the site “The lira today“.
Craftsmen in Syria follow the fluctuations of gold prices and do not abide by the official bulletins issued by the “Association of Goldsmiths”, despite the constant warnings of the “Association of Goldsmiths” of the necessity of adhering to the official prices issued by it.
The goldsmiths add wages for “goldsmithing” that are proportional to the prices at which they bought, in order to secure for them the basic profit, according to what Enab Baladi has monitored.
The goldsmiths attribute the lack of commitment to the official rates to “chaos and confusion” at the exchange rate of the Syrian pound.
The Association notes continuously that the prices issued by it are “regular” prices, and must be bought and sold according to them, and other things are considered “incorrect and contrary.”
The association had prohibited the sale of any gold piece without a regular bill from the shop, adding that any complaint from the citizen would expose the craftsman to legal accountability.
It also prohibited the sale of melted gold (fraction) to anyone other than craftsman, referring to the citizen’s interest and threatening “legal accountability”.