After a turbulent week, the Syrian Pound has managed to recover most of its losses against the US dollar.
Syria is issuing a new stamp duty, called the Martyrs Stamp Duty, whose proceeds will go to the families of the fallen soldiers and other militia members fighting for the Syrian regime.
For weeks, the same four banks have been dominating trading in the Damascus Securities Exchange, even though the total value of activity in the Syrian bourse remains very small.
The index of the Damascus Securities Exchange gained last week as the value of trading remained mostly unchanged compared to the previous week.
Last week, the index of the Damascus Securities Exchange recorded a weekly gain for the first time in some two months.
Arab Bank Syria has announced that its branch located in the city of Daraa had been attacked, one of many similar incidents in the last three years, which overwhelmingly occurred in regime-controlled parts of the country.
United Insurance Company has announced the appointment of a new chief executive officer.
The index of the Damascus securities exchange declined again last week following recent losses.
Except a large transaction involving shares of the National Insurance Company, trading in the Syrian bourse last week was dull.
The announcement last week by the Central Bank of Syria that it planned to pump more than USD 150 million this week to prop up the pound has done little to reassure markets or to strengthen the value of the national currency.
The dollar has crossed the 200 pound level in the Syrian foreign currency market for the first time in months.
ISIS, the radical takfiri group that controls large swathes of Syria, announced last week that it would start minting its own gold, silver and copper coins.
Both the DWX and the value of trading in the Damascus Securities Exchange slightly declined last week.
A new law has been enacted in Syria establishing a banking court that will judge all lawsuits related to the banking sector and serve as a means for banks to recover faster debts owed by their clients.
After holding steady for several weeks the Syrian Pound lost again last week some ground relative to the U.S. dollar.
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