Banking stocks continued to dominate trading last week in the Damascus Securities Exchange as the market’s main index remained stable for the second week in a row.
The Syrian pound surged in recent days against the dollar, going back to levels not seen in months.
Both the stock market index and the volume of trading in the Damascus Securities Exchange remained unchanged last week from the previous one.
Cham Capital has announced the name of its new general manager.
The level of trading in Syria’s stock exchange last week was the lowest in many weeks.
Cham Capital, a brokerage firm, has announced the resignation of its general manager.
The two most traded stocks in the Damascus Securities Exchange during the first three quarters of this year are affiliates of Qatari institutions, although politics has little to do with this.
The trading activity in the Syrian stock exchange fell for the second week in a row as the country enters a full week of holidays.
The Syrian authorities are closing the country’s foreign exchange companies as part of a clampdown on black market dealers.
A handful of stocks continue to dominate trading in the Syrian bourse amid low volumes.
Fransabank Syria has announced the election of a vice-chairman for its board.
Banque Bemo Saudi Fransi has announced that an armoured car transporting cash from one of its branches had been attacked.
The foreign reserves of the Syrian government declined significantly at the end of 2011, confirming the rapid depletion of foreign currencies held by the Central Bank of Syria after the beginning of the uprising.
The US dollar has lost some 15 percent of its value relative to the Syrian Pound in the last two days as the Syrian currency gained strength following the UN resolution on Syria’s chemical stocks, which was seen as a victory for the Syrian authorities.
The volume of trading in the Damascus bourse rose to 85 million pounds last week, half of which on a single stock.
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