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.
The DWX fell in the last two weeks as the market witnessed two important transactions involving banks.
Banque Bemo Saudi Fransi has announced that it has bought a minority stake in one of its competitors.
Syria’s stock market index declined last week for the first time in several weeks as investors cashed in gains from the Cham Bank stock.
Starting August 4, the number of weekly sessions at the Damascus Securities Exchange will increase to four.
Damascus International Fairground
Tax Revision Committees
Damascus Chamber of Commerce