Syria introduces special currency concession for international NGOs after lira collapse causes cash crunch ...Kuwait

International NGOs have struggled with the depreciating lira, leading to funding shortages. Syria has relaxed money exchange rules for international non-governmental organisations (INGOs) operating in the country, after the low official currency rate led to a cash crunch for aid groups, according to Arabic media reports. The Syrian Central Bank doubled the exchange rate for INGOs, raising the official price from 1,250 liras to the dollar to around 2,500, Arabi21 reported on Wednesday.The official exchange rate for the public will remain at 1250 liras to the dollar.The adjustment for INGOs is still well below black market rate of more than 4,000 liras to the dollar, but should provide some r

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Last updated : 25 March 2021 clock 05:31 PM

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