The lira consolidates gains against the dollar for a second day and improves by more than 20 percent
The Syrian pound strengthened its gains against the dollar yesterday, for the second day in a row, as it improved by more than 20 percent in the past two days, although it improved by about 15 percent yesterday
According to sources in the market, it is the selling operations that dominate the trading, which is reinforced with the value of the pound, where the reduction of losses led the market to the level of 800 pounds to the dollar, so yesterday, everyone who bought the dollar lost above the level of 800 pounds, in varying rates, Exceeds 20 percent of the capital in dollars.
According to the information circulated in the market, the market was waiting for any shock to start selling, after the exchange rate exceeded 950 pounds to the dollar, and as quickly as it rose three days ago, the dollar fell and fell yesterday, the market corrupted fear, and increased sales, to reduce the loss There is talk of a meeting held three days ago at the Central Bank, which brought together the owners of exchange companies.
Experts in financial markets, familiar with the exchange market in Syria, stressed that the unprecedented levels reached by the exchange rate three days ago were never expected, and the main driver was speculative operations and intimidation of prices in the market, in order to push them to the point of achieving the greatest possible gains It is true that there are objective factors that justify the depreciation of the exchange rate, especially what is happening in Lebanon, specifically for monetary and banking procedures. Three days later, Ales opened Yesterday, at the price of 930 pounds to the dollar, to close the market below 900 pounds, and stabilized yesterday evening at 800 pounds, likely to witness a state of calm in the market soon, especially since we saw a rapid rise of the dollar followed by a rapid decline after hours, several times during the war years, often What was followed by a state of calm after the price reached an acceptable level, according to economic and monetary variables .. And others.
The government has attributed what happened in the market to its actions, as published by the Presidency of the Council of Ministers yesterday on its official page «Facebook» that a series of daily meetings held by the economic team in the Presidency of the Council of Ministers over the past two weeks to study the high exchange rate and high prices and intervention to reduce the impact on The intervention of the government to impose real prices and determine the prices of materials financed by the central and imported by domestic trade and other locally produced, came a real response and a serious attempt to get the dollar out of the battle, and neutralize its impact on the citizen Lori, is no longer a dollar affair after securing a popular commodity prices supported by citizen action and thus stop the confusion taking place in the markets, at a time are alarming because they are targeting food on the Syrian citizen and basic food basket.
"It did not stop there. The results of these meetings have emerged since yesterday through the apparent depreciation of the exchange rate and stand in the face of the fiercest economic war that Syria is currently facing through hired speculators."
