* Bloomberg: Syria to Start Managed Float of Currency Next Week, Central Bank Head Says
January 20th, 2012 12:27 pm · Posted in NEWS: Dinar Currency & World Currency News
Syria will introduce a managed float of its currency next week, central bank Governor Adib Mayaleh said. The move will allow the pound to devalue after demand for foreign currency drove a surge in black-market rates.
“We will have a partial managed float, allow the rate to be determined by the market and intervene when necessary,” Mayaleh said in a phone interview from Damascus today. “If we see a rate, like that of 70 pounds now, which I don’t like, then we will intervene, and next week there will be a positive intervention by the central bank with the injection of foreign currency into the market.”
The * Bloomberg: Syria to Start Managed Float of Currency Next Week, Central Bank Head Says by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
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