Translation by Yusra Ahmed
(Eqtsad)- The Syrian regime has tried to take advantage of the drop in the exchange rate of the U.S Dollar against the Syrian pound to appear as if the drop was due to effort and procedure taken by it.
The regime’s media and TV channels have intensively highlighted the tour of the Deputy of Minister of the Internal Trade in markets of Damascus which ended up in closing more than 20 shops because they breached the law and penalising other 125 shops in Bab Srijeh, Shaalan, Mezzeh and Dommar, under claims of selling goods at prices higher than the official ones and cheating in selling meat, dairy products and cheese, besides not showing prices clearly.
Loyalist on social media were not happy with that showing-off tour, as prices still high. They wondered if the soar prices are only related only to traders’ greediness or because the goods were imported while the U.S Dollar was as high as SYP 600. Loyalist suggested that the regime should look at its procedures, which were the real cause in the drop of the Syrian pound value because it did not take enough precautions.
The exchange rate of Syrian pound had declined to an unprecedented levels and reached nearly 600 SYP to the U.S Dollar in the last month.
One of the most important reason was the report of World Bank issued two months ago titled: “Economic Observatory for the Middle East and North Africa – Spring 2016”, in which it mentioned that that the Central bank of Syrian has experience sharp decline in cash reserves.
Many procedures were taken by different bodies in Syria, one of them was the initiative of the trade chamber of Damascus city, as it has decided to unite with the community to face the unprecedented deterioration on the exchange rate of the Syrian pound against the U.S Dollar, calling traders to reduce prices as much as possible in the holy month of Ramadan.
(Eqtsad)- The Syrian regime has tried to take advantage of the drop in the exchange rate of the U.S Dollar against the Syrian pound to appear as if the drop was due to effort and procedure taken by it.
The regime’s media and TV channels have intensively highlighted the tour of the Deputy of Minister of the Internal Trade in markets of Damascus which ended up in closing more than 20 shops because they breached the law and penalising other 125 shops in Bab Srijeh, Shaalan, Mezzeh and Dommar, under claims of selling goods at prices higher than the official ones and cheating in selling meat, dairy products and cheese, besides not showing prices clearly.
Loyalist on social media were not happy with that showing-off tour, as prices still high. They wondered if the soar prices are only related only to traders’ greediness or because the goods were imported while the U.S Dollar was as high as SYP 600. Loyalist suggested that the regime should look at its procedures, which were the real cause in the drop of the Syrian pound value because it did not take enough precautions.
The exchange rate of Syrian pound had declined to an unprecedented levels and reached nearly 600 SYP to the U.S Dollar in the last month.
One of the most important reason was the report of World Bank issued two months ago titled: “Economic Observatory for the Middle East and North Africa – Spring 2016”, in which it mentioned that that the Central bank of Syrian has experience sharp decline in cash reserves.
Many procedures were taken by different bodies in Syria, one of them was the initiative of the trade chamber of Damascus city, as it has decided to unite with the community to face the unprecedented deterioration on the exchange rate of the Syrian pound against the U.S Dollar, calling traders to reduce prices as much as possible in the holy month of Ramadan.
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