Syria builds dollar reserves, thanks partly to Assad's enemies


  • World
  • Thursday, 16 Jan 2014

AMMAN (Reuters) - Syria's central bank has bought hundreds of millions of dollars from the domestic currency market it now tightly controls, helping to build up depleted reserves for an economy crippled by civil war, bankers and dealers say.

After jailing dozens of dealers in a black market crackdown, Damascus has pulled off the purchases without provoking a new collapse of the Syrian pound - thanks partly to dollars pumped into rebel areas by President Bashar al-Asssad's enemies.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Feature: Gastronomy festival on Seine marks 60th anniversary of China-France ties
Key separatist commander among 3 killed in Cameroon's restive Anglophone region
Ukrainians in embattled east mark third Easter under fire
Death toll from southern Brazil rainfall rises to 75, many still missing
South Africa inquiry blames authorities for neglect leading to deadly fire
Death toll from Kenya floods rises to 228
On Orthodox Easter, Zelenskiy calls on Ukrainians to unite in prayer
Russia blames Baltic countries for the severing of most ties
Panamanians vote in crowded field of presidential contenders
Putin attends Easter service led by head of Russia's Orthodox Church

Others Also Read