For the second week in a row, the US dollar has climbed in the Syrian foreign currency market.
Trading in the Syrian stock exchange reached last week one of its lowest levels on record.
After a respite of ten days, the Syrian Pound lost some ground against the dollar to be traded at around 280 in Damascus.
The main index of the Damascus Securities Exchange gained 0.29 percent last week to close at 1,211.44.
The sale of large amounts of dollars by the Central Bank of Syria in the last week helped the Syrian Pound recover to around 250 per dollar from over 300 only ten days ago.
Only a quarter of the listed stocks in the Damascus Exchange were traded last week.
After spending large amounts of dollars in the market, the Central Bank of Syria has managed in the last two days to strengthen spectacularly its currency.
Syria’s stock market index, the DWX, finished last week with a fifteenth consecutive loss.
The dollar accelerated last week its gains against the Syrian pound, crossed the 300 pounds level, and is now traded at its highest level on record.
After four consecutive days of decline, Syria’s stock market index fell last w eek to its lowest level in more than eighteen months.
The Syrian Pound has lost further ground against the dollar last week and is likely to fall below 300 per dollar, its lowest level ever.
Syrian investors continue to flee the Damascus Securities Exchange, which witnesses week after week extremely low levels of activity.
The dollar continued to rise in the Syrian currency market in the last week and closed at 280 pounds today.
Syria’s stock market index continued its slow and steady decline.
The United States has blacklisted one Syrian official and three companies based in Syria and Lebanon for their support to the Syrian regime.
EDU 2011 Aleppo
Sheraton Hotel Aleppo
EDU 2011 Damascus