CBS Governor Denies News on Suspending the Selling of Foreign Currency to Banks and Foreign Currency Exchange Institutions

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jouhina news, Governor of Central Bank of Syria (CBS), Adib Mayaleh, denied as "baseless" the news broadcast by some media involved in shedding the Syrian blood on the suspension of selling foreign currency to other banks and currency exchange institutions. In a statement to SANA, He added that the Bank is committed to fund trade and non-trade needs through other banks or foreign currency exchange institutions. Mayaleh stressed that what has been broadcast and circulated amid dealers in the local market is untrue and it aims at spreading panic, undermining the citizens' confidence in the Syrian Pound in addition to achieving illegal profits through speculation. He added that the rise of the exchange rate in the parallel market is unjustified, indicating that all exchange processes in this market are illegal and the authorities concerned will take necessary measures against those who deal in it. The CBS Governor indicated to the bank's efforts to maintain the exchange rate at a balanced level and curb market manipulation. He said that there is no justification to the price rise of goods over the past few days which has been attributed to the rise of the exchange rate in the parallel market, adding that it is an attempt to make use of the current circumstances to achieve illegal revenues since all export and import processes are funded according to the CBS exchange rate bulletin