Central Bank Governor: Exchange Rate Increase Resulting from Speculation and Rumors

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jouhina news, Governor of Central Bank of Syria (CBS) Dr. Adib Mayyaleh said that the rise of the exchange rates during the past week isn't real and that it resulted from speculation and rumors that the CBS foreign currency reserves are depleted and that the SYP exchange rate has crashed. During a meeting with representatives of banks and currency exchange companies on Tuesday, Mayyaleh refuted the rumors that the CBS can't defend the exchange rate and provide cash in SYP to cover wages, affirming that these rumors are part of the war on Syria and that the CBS is working to keep the SYP exhnage rate stable. He stressed the need for banks and exchange companies to play a vital role in competing with the foreign currency black market, with the CBS playing the central role in the foreign currency market to organize it and prevent any rises in exchange rates.