Syria’s Central Bank targets black market with dollar rise

Syria’s Central Bank targets black market with dollar rise

The Central Bank of Syria has raised the rate of the Syrian pound from 13,200 to 12,000 liras to the dollar, in an attempt to eliminate the black market currency exchange industry. The move is seen as an attempt to narrow the gap between official and unofficial rates for the Syrian pound, with all the Central Bank's bulletins - official, for banks and exchange offices, customs, and the monthly bulletin - combined into a single bulletin. Accordin…