(Zaman Al Wasl)- Money-change offices stop selling Dollar for Syrian Pound in Latakia due to big decrease in the value of the Syrian pound. One dollar equaled 580 Syrian pounds on Thursday to go beyond 600 on Friday.
Mutaniuos owner of the money exchange company said the money changers stopped changing the dollar to make the most of the declining value of the Syrian pound.
He said to Latakia Media Network the moneychangers would only exchange dollars when the value of the exchange is stable.
Mutanious added the Central Bank did not sell Dollars on Thursday but sold hundred thousands to army officers and thugs and regime affiliated traders with the official price each dollar for 540 Syrian Pounds. In turn, they sold it in black market with a price beyond 600 Syrian pound making big profits in a short time.
The Syrian pound lost 30% of its value in front of the American Dollar.
Economic analysts attribute the lost value to regime manipulation to decrease government payments.
Money exchange offices stopped selling dollars for days in the beginning of 2013 due to a sharp decrease in the value of the Syrian pound. It decreased from200 to 350 for one dollar in one week.
(Translation by Rana Abdul)
Mutaniuos owner of the money exchange company said the money changers stopped changing the dollar to make the most of the declining value of the Syrian pound.
He said to Latakia Media Network the moneychangers would only exchange dollars when the value of the exchange is stable.
Mutanious added the Central Bank did not sell Dollars on Thursday but sold hundred thousands to army officers and thugs and regime affiliated traders with the official price each dollar for 540 Syrian Pounds. In turn, they sold it in black market with a price beyond 600 Syrian pound making big profits in a short time.
The Syrian pound lost 30% of its value in front of the American Dollar.
Economic analysts attribute the lost value to regime manipulation to decrease government payments.
Money exchange offices stopped selling dollars for days in the beginning of 2013 due to a sharp decrease in the value of the Syrian pound. It decreased from200 to 350 for one dollar in one week.
(Translation by Rana Abdul)
Comments About This Article
Please fill the fields below.