Why is the price of the dollar in Syria higher in the central bank?


In an economic scene shrouded in mysterious and confused, the Syrian pound stands in front of a rare paradox: its official exchange rate is higher than its value in the parallel market.

Despite the successive collapses that have been ravaged by the national currency since the outbreak of popular protests in 2011, recent developments reveal unfamiliar phenomena in the exchange rate policies, as the dollar in the black market decline to levels lower than the price set by the central bank.


The economists of the contrast economists between the official and parallel price attributed to a number of reasons, most notably:

Parallel market speculation.
Central Bank’s monetary policies.
– The Syrian Central Bank resorted to withdrawing the lira from the markets in order to secure the increases announced by the transitional government in employee wages by 400 percent.
– Political breakthroughs, which naturally pave the economic breakthroughs
– Delay in the salaries of about one million government employees
– Tens of thousands of Syrian expatriates return in large quantities of dollars
– The demand for the dollar has decreased from importers. (Sky News)


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