Syrian pound improves after central bank raises exchange rate ...Egypt

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Syrian pound improves after central bank raises exchange rate
AMMAN (Reuters) – Syria’s currency rose on Sunday in the first day of trading after the central bank raised the official price to attract foreign transfers and capital inflows from Syrian expatriates away from the black market, dealers said. They said the pound was trading around 2,990 to the dollar on Sunday, its strongest level since late December. Traders said sentiment had improved after Syria raised its official exchange rate on Thursday to 2,512 to the dollar from 1,256, bringing it closer to informal market rates. The improved rate will encourage transfers by Syrian expatriates through licensed banks rather than the black market, where most foreign exchange dealing is done, bankers s

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