ISIS has reportedly begun to mint and circulate its own currency while its revenues from oil are falling.
Syria’s customs revenues increased in the first half of this year as a consequence of the decline in the value of the pound relative to the dollar.
The volume and value of shares traded in the first half of this year in the Damascus Securities Exchange more than doubled compared to the same period of 2015.
The Central Bank of Syria has licensed a new foreign exchange company, the first in two years.
Banque Bemo Saudi Fransi, Syria’s largest private sector commercial bank, has announced the appointment of a new CEO.
The U.S. Government has blocked several properties located in New York and Washington, D.C. as well as millions of dollars owned by the Syrian Government, a recent report reveals.
Cash Shortage Strengthens Syrian Pound, Increases Speculators’ Profits and Erodes Confidence in Central Bank
The decision by the Central Bank of Syria 10 days ago to reduce the supply of Syrian pound liquidities has helped strengthen the value of the national currency but appears unsustainable in the medium and long-term.
The Damascus Securities Exchange posted in May its first monthly loss in the space of five months and saw a sharp decline in the value of shares traded.
The pound has strengthened significantly relative to the dollar in the past week and is now back to its level of the beginning of the year.
The US dollar crossed this week the 600-pound level in the Syrian currency market, which is increasingly slipping out of the control of the Central Bank.
Syria’s insurance market grew 23 percent last year, according to the industry’s regulator.
The value of trading and of the main market index of the Damascus Securities Exchange continued to increase markedly in April.
The US dollar has continued to gain ground slowly in the Syrian foreign currency market and is gradually closing on the 600-pound level.
While the Panama Papers did not reveal anything unexpected on Syria, the investigation over them will likely complicate further the attempts by officials and regime cronies to hide their money.
Damascus International Fairground
2nd International Finance Markets Investment Forum 2011
Sheraton Hotel Aleppo