Shafaq News/ The Central Bank of Syria (CBS) unified all itsexchange rate bulletins into a single document titled the "OfficialBulletin," the bank announced on Sunday.
The CBS also revealed that the exchange rates published inthe bulletin—including buying, selling, and the median rate—will be determinedbased on a review of exchange rate fluctuations and relevant economic factors.These rates will remain subject to change in accordance with market dynamicsand foreign currency supply and demand.
“The move is part of ongoing efforts to standardize exchangerate publications, address discrepancies in exchange rates, and mitigate theirnegative effects. The decision also aims to narrow the gap between the officialand parallel market rates while curbing speculative trading, in line withdirectives from the Prime Minister’s Office,” the CBS pointed out.
Additionally, the CBS granted licensed banks and exchangeinstitutions greater flexibility in issuing their own exchange rate bulletinsfor transactions with the public. These rates must adhere to the daily pricemovement margin set by the central bank, allowing financial institutions toadjust their pricing within a specified percentage range above or below theofficial rate.
According to Lira Today, a website tracking black-marketexchange rates, rates for the US dollar ranged from 10,250 to 10,650 liras.Meanwhile, the Central Bank of Syria recently raised the official exchange rateto 12,000 liras per dollar for buying and 12,120 liras for selling.