The value of the stocks traded in the Damascus Securities Exchange fell again last week to reach SYP 9.6 million.
The dollar stabilized in the Syrian foreign currency market last week, although this required the Central Bank of Syria to pour significant amounts of dollars in the market.
United Insurance Company has announced the resignation of its General Manager.
The Syrian Pound fell last week to its lowest level in more than a year before a strong intervention by the Central Bank of Syria helped limit the losses.
The DWX lost 0.81 percent last week in another week of low trading at the Damascus Securities Exchange.
The Large Taxpayers Unit of the Ministry of Finance is reportedly generating billions of Syrian pounds to the treasury.
The US dollar continued to climb in the Syrian foreign currency market, rising to 180 pounds per dollar for the first time in some four months.
Trading in the Damascus Securities Exchange remained dull last week with volumes at only a few thousand dollars in one of the sessions.
The Syrian Pound continued last week its decline relative to most foreign currencies.
Islamic banks attracted more than half of the trading in the Damascus Securities Exchange last week.
The DWX declined in each of last week’s four sessions as trading in the stock market was dominated by two large transactions involving a commercial bank.
The Central Bank of Syria is decreasing gradually the official value of the Syrian Pound to help limit the attractiveness of the dollar in the black market.
Mohammad Haykal has joined the board of Arab Bank Syria replacing Samer Rustom.
Following months during which its value remained relatively stable compared to the dollar, the Syrian Pound has lost again some ground.
Syria’s insurance market continued to decline last year and was worth, in dollar terms, less than a quarter of its value in 2010.
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