Central Bank of Syria to sell foreign currency

Governor of Central Bank of Syria (CBS) Adeb Mayaleh said that as of Tuesday, the bank will respond to the banks' demands for buying the foreign currency from CBS to finance imports according to the market needs. "CBS will provide the exchanging institutions and the Commercial Bank of Syria with the foreign currency by acceptable prices in order to meet the citizens' requests to buy the foreign currencies according to regulations which sell each citizen an amount of 1000 Euro per month," Mayaleh said in a statement. In this regard, Mayaleh affirmed that the government put the needed mechanisms to activate the credit facilitation line granted by Iran with 1 billion USD to fund a big part of the market needs. The CBS procedures come to restore the price of the Syrian pound against the foreign currencies back to normal.