Central Bank Unifies Foreign Exchange Rates and Relaxes Restrictions on Daily Cash Withdrawals

On January 03, the Central Bank of Syria (CBS) devalued the Syrian pound in its Official exchange rate bulletin, raising it to SYP 2,500 per US dollar from SYP 1,250. It has also recently eased restrictions on daily bank withdrawals, gradually reversing a previous measure that was adopted to strengthen the national currency.