The level of trading slowed somewhat at the Damascus Securities Exchange this week with average prices increasing on a weekly basis.
The Central Bank of the Philippines has taken the rare decision of buying non-convertible Syrian Pounds from Filipino workers returning home from Syria.
The Damascus stock market index continued to rise for the second week running on the back of rising demand for banking stocks.
The Syrian Pound gained some strength last week in the black market relative to the US dollar.
A US official has cautioned Russian banks against dealing with their Syrian blacklisted counterparts, Reuters has reported.
A ten percent surge in the price of the SIIB stock enabled the main index of the Syrian securities exchange to rise last week for the first time in almost six months.
The Syrian Pound regained some strength in the informal currency market in the last two weeks to stabilise at around 95 pounds per dollar.
Syria’s stock market began this year as it closed last, with an uninterrupted decline in prices.
Bank Al-Sharq has announced the second resignation in as many months of one of its directors.
The Syrian Kuwaiti Insurance Company became this week the latest listed company to announce the resignation of a board member.
The dollar crossed the 100 pound threshold in black market trading this week in Damascus.
Trading in banking stocks helped increase the total volume of trading in the Damascus Securities Exchange last week to levels not seen since March.
The US dollar crossed again the 90 pounds level this week in the Syrian informal currency market.
Stocks continued to lose ground in the Damascus Securities Exchange over the week while trading volumes reached SYP 6.1 million.
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