The Central Bank reduces the exchange rate of the Syrian pound by 300 Syrian pounds against the dollar

The Central Bank of Syria (CBS) has readjusted the official exchange rate through a new devaluation of the Syrian pound against the dollar, as the deadline for replacing the Syrian currency is approaching the end of next July.

According to the bulletin issued, Wednesday, June 24, 2026, the Central Bank set the purchase price of the dollar at 115.5 SYP (11,550 old SYP) and the selling price at 116.5 SYP (11,650 old SYP), while the average price stabilized at 116 SYP (11,600 old SYP).

The decision included reducing the price action margin from 17% to 15%, in a move that economists said aims to tighten control over market fluctuations and reduce speculation, ensuring that prices remain within a narrow and more stable range.

Bridging the gap with the parallel market

This amendment comes within the framework of a monetary policy that is oriented towards bringing the official price closer to the levels of the parallel market, which allows for attracting remittances and commercial transactions to official banking channels and reducing the leakage of foreign currency to the black market.

The latest reduction reflects the bank's adopted managed flotation policy, as the adjustment came in response to the rise in demand for dollars to finance imports and production requirements as reconstruction activity expanded. The narrowing of the margin also sends a clear message to speculators that price action is becoming more controlled, reducing pricing chaos and giving markets greater stability.

Economists believe that the devaluation of the lira by 3 new liras (300 old pounds) could contribute to enhancing the competitiveness of Syrian exports by reducing the cost of local goods for international buyers, which may be reflected in an additional flow of foreign currency and support for the balance of payments in the coming period.

Sharp volatility in the parallel market

The parallel market in Syria witnessed an unprecedented turmoil for months, with the Syrian pound recording a series of sharp movements that reflected the state of price tension and the imbalance between supply and demand, as the dollar began its transactions at the level of 14,150 pounds, before quickly declining to 13,500 pounds during daylight hours, and then gradually rising again to close at 13,600 pounds, in a scene that clearly reflects the volume of speculation and the widening of the gap between the official price and the parallel price.

 These moves coincide with new monetary decisions by the Central Bank, most notably the reduction of the official price of the dollar and the reduction of the price movement, which prompted traders to quickly reprice their financial positions, and the increase in demand for dollars to finance imports, especially as the end of the month approached, contributed to strengthening the pressure on the lira and preventing any decline from continuing for a long time.

Price rebounds at close

 Sources in the exchange market pointed out to "Syrian News" that the sharp decline witnessed by the lira during the day was the result of the entry of quantities of dollars through foreign remittances or large sales by money changers, but this supply was not enough to meet the increasing demand, which led to the price rebounding again at the close.

The importance of these moves is highlighted by the fact that the parallel price is the actual reference for the pricing of most basic commodities in the Syrian markets, from food and medicines to imported goods, in addition to its adoption in determining the prices of oil derivatives that are directly affected by any change in the price of the dollar. Thus, any rise is immediately reflected in prices, while the impact of the decline is not as fast, which increases the living pressures on citizens.

Observers believe that the continued gap between the official price and the parallel market keeps the latter the most influential player in price movements, and makes any attempt to control the market have a limited impact unless it is accompanied by a real increase in the supply of foreign exchange and an improvement in remittance flows through official channels.