Reporting by Mustafa Mohamed
(Eqtsad)- Some might classify the trade in Syrian pound in southern cities of Turkey as small trade and that might be a correct classification when looking at who has the keys of this trade; however, this classification seems to be inaccurate when looking at the size of the size of SP presented in the Turkish cities near Syrian borders.
At first, the size and dimensions of this trade cannot be considered away from the causes which led to few currency traders to manipulate the trade on all the SP in south of Turkey.
The most prominent causes are according to economic sources the instability of SP in front of other currencies in addition most of Turkish and Syrian exchange offices avoiding dealing with the SP.
These reasons and others led to stabilizing the price of buying the SP in a low value and almost constant rate in Turkish cities in comparison to the real price of SP inside of Syria in a percentage ranging between 15 to 20 SP for each Turkish lira.
A Syrian trader, spoke on condition of anonymity, confirms to Eqtsad that the number of traders who manipulate the trade in Gaziantep are very few and he described them as lobbies.
Regarding the size of the trade, he mentioned that one trader he knows collects a sum of more than 1100000 SP every weak adding that he buys the sum from exchange offices in Gaziantep in TL and exchange it with foreign currency inside of Syria making large profits that might be legitimate.
Despite all the indicators he mentioned, the economist Munzer Mohamed told Eqtsad there should not be talks of legitimate profits made by currency traders in this case, saying that what is happening is exploiting the Syrian poor who brought sums of SP to Turkey one way or another. He clarified, “the legitimate profit is one thing and exploitation is another thing,” pointing out that many currency exchange traders claim they deal with SP as a service to Syrians.
According to Mohamed, financial inspector defected from regime, this trade is becoming popular nowadays especially that many Syrians still come to Turkish cities bringing in SP with them after they finish their visits in Syria during Eid time.
(Eqtsad)- Some might classify the trade in Syrian pound in southern cities of Turkey as small trade and that might be a correct classification when looking at who has the keys of this trade; however, this classification seems to be inaccurate when looking at the size of the size of SP presented in the Turkish cities near Syrian borders.
At first, the size and dimensions of this trade cannot be considered away from the causes which led to few currency traders to manipulate the trade on all the SP in south of Turkey.
The most prominent causes are according to economic sources the instability of SP in front of other currencies in addition most of Turkish and Syrian exchange offices avoiding dealing with the SP.
These reasons and others led to stabilizing the price of buying the SP in a low value and almost constant rate in Turkish cities in comparison to the real price of SP inside of Syria in a percentage ranging between 15 to 20 SP for each Turkish lira.
A Syrian trader, spoke on condition of anonymity, confirms to Eqtsad that the number of traders who manipulate the trade in Gaziantep are very few and he described them as lobbies.
Regarding the size of the trade, he mentioned that one trader he knows collects a sum of more than 1100000 SP every weak adding that he buys the sum from exchange offices in Gaziantep in TL and exchange it with foreign currency inside of Syria making large profits that might be legitimate.
Despite all the indicators he mentioned, the economist Munzer Mohamed told Eqtsad there should not be talks of legitimate profits made by currency traders in this case, saying that what is happening is exploiting the Syrian poor who brought sums of SP to Turkey one way or another. He clarified, “the legitimate profit is one thing and exploitation is another thing,” pointing out that many currency exchange traders claim they deal with SP as a service to Syrians.
According to Mohamed, financial inspector defected from regime, this trade is becoming popular nowadays especially that many Syrians still come to Turkish cities bringing in SP with them after they finish their visits in Syria during Eid time.
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