The Syrian pound breaks the thousand mark against the dollar for the first time in its history

[yota691]

Syria will achieve the fastest economic growth in the world by 2019

09:16 - 07/01/2019

 

 

 

Follow-up - Mawazine News 
The Economist magazine predicted that the economic growth rate in Syria will reach 9.9% in 2019, in the index is the highest in the world. 
According to the magazine, the list of countries expected to achieve the highest growth rates include Bangladesh (7.9%), Bhutan (7.4%), India (7.4%) and Rwanda (7.3%), while the list of countries "most failed" (-5.7%), Yemen (-4.2%), Iran (-3.7), Equatorial Guinea (-2.5) and Argentina (-0.8). 
According to the magazine, the case of Syria is a reflection of the fact that the large numbers "may reflect the lowest starting point."
Syrian Minister of Economy and Foreign Trade Samer Khalil said in a statement to the Syrian newspaper Al-Watan that there were no accurate official forecasts about the country's economic growth rate during the current year. He added: "It is not possible to confirm the validity or reality of these figures, especially with the transitional conditions experienced by the economy during this period of time". 
He added: "However, it is consistent with our positive view of the prospects of the Syrian economy during the next phase as a result of the nature of this economy and its diversity and its dynamic, in addition to the policies and procedures that worked and the government is working to restore economic activity vigorously. 
He said that the Syrian economy can achieve positive growth rates important after the large losses suffered during the war and led to a significant decline in GDP.
He pointed out that "what is important in these expectations and estimates is the radical shift in the way the outside world views the Syrian economy."

[haymon]

What about there currency??

[yota691]

Syrian Central Bank issues new coin
 

Published: 26.12.2018 | 13:02 GMT |money and business

 

Reuters
Central Bank of Syria

The Central Bank of Syria (CBK) on Wednesday issued a new 50-pound metal coin as part of a policy aimed at securing market demand for bank notes and coins.

The Central Bank announced that the new item will be put into circulation as of Wednesday, and comes the launch of the currency in order to secure the needs of circulation of banknotes and coins and the growing market need of small groups, especially the category of 50 pounds.

The new category carries on its front page the slogan of the Syrian Arab Republic and the history of the occupation, and on the other is a picture of the unknown soldier.

Source: "SANA"

[yota691]

Central Bank releases new SYP 50 coin into circulation

26 December، 2018

 

Damascus, SANA – The Central Bank of Syria released a new SYP 50 metal coin.

In a statement on Wednesday, the Central Bank said this new coin was released into circulation as of today, and this is done to meet the need for small-value currency, specifically SYP 50 currency.

The new coin bears the coat of arms of the Syrian Arab Republic and the date of minting on one side, and an image of the Unknown Soldier Monument on the other.

Hazem Sabbagh

[mr.unlikely]

50 pound coin! Must be hard to carry around!

 

[10 YEARS LATER]

Your country is burning and the dead are piled up like cordwood. When all else fails, a stubborn unwillingness to face facts will see you through. 

[mr.unlikely]

10YL you’re right. 

And if you close your eyes, you become invisible, cause if I can’t see you you can’t see me. I know that’s true cause I read it on the internet 

[Hotcurl]

On ‎1‎/‎7‎/‎2019 at 3:46 AM, haymon said:

What about there currency??

 

It looks like, at todays currency exchange rates  ;

$1 USD will buy 214.550 Syrian Pounds

1 Syrian Pound = $ .00465 USD  

In comparison  ;

$1 USD will buy 1178.77 Iraqi Dinar

1 IQD will buy .00083 USD

And ,

$1 USD will buy .70900 Jordanian  Dinar

1 Jordanian Dinar will buy $1.41044 USD

 

So to answer haymon's question. the new 50 Pound Syrian coin is worth or will buy about $ .23 USD at current exchange rates.

 

Semper Fi

RV there yet

[haymon]

Well the ratio is not as good as IQD..... but it could go up....

[jmartin1145]

33 minutes ago, haymon said:

Well the ratio is not as good as IQD..... but it could go up....

Im getting too old and tired waiting for things to go up.

[davis411]

11 minutes ago, jmartin1145 said:

Im getting too old and tired waiting for things to go up.

That’s what my wife says daily

 

wonder what she means

 

guess only god knows what she is saying 

[nannab]

20 minutes ago, davis411 said:

That’s what my wife says daily

 

wonder what she means

 

guess only god knows what she is saying 

 

OH I ain't even going there fella 

[davis411]

2 minutes ago, nannab said:

 

OH I ain't even going there fella 

Ahhh

like I said 

god only knows what she means

hahaha

 

dont forget to vote

[yota691]

Syrian-Syrian agreement to establish a common bank and use national currencies

 

Spread Wednesday , 30 January 2019

 

DAMASCUS, (SANA) - Syria and Iran signed an agreement on banking cooperation between the two central banks in the two countries aimed at stabilizing the banking sector and developing it to facilitate trade exchange and encourage investment in light of current challenges and the current circumstances of the two countries, (SANA).

 

The head of the Central Bank of Iran, Abdel Nasser Hamati, an agreement between his country and the Syrian government, the establishment of a joint bank between the two countries, based in the Syrian capital Damascus, according to statements quoted by the official Iranian news agency (IRNA).

 

"I have announced the establishment of banking intermediation relations between Iran and Syria, for which a license will be issued for the establishment of a joint Iran-Syria bank, which will be based in Damascus," he said.

 

"In the framework of the agreements between Iran and Syria, in order to develop economic relations between the two countries, an agreement was signed on the establishment and development of banking relations," Hamati wrote on his personal page at the Entgram website.

"Based on the agreement with the President of the Central Bank of Syria, will be the establishment of banking mediation between the two countries and the issuance of a license to establish a joint bank between Iran and Syria in Damascus."

Hamti said the central banks of the two countries would start by opening the account on the basis of the national currency of the two countries, and the possibility of using bank cards between Tehran and Damascus would also be available.

According to the head of the Central Bank, in the light of the agreements reached during the visit of the Iranian delegation headed by First Vice President Yitzhak Jahangiri, to Syria, the Syrian leadership confirmed the decision of Damascus to develop economic relations with Iran, In Syria as a special priority.

The Syrian-Iranian Business Forum, organized by the Federation of Syrian Chambers of Commerce in cooperation with the Syrian-Iranian Chamber of Commerce and the Syrian-Iranian Businessmen Council, was opened in Damascus on Tuesday, in the presence of Syrian Prime Minister Imad Khamis, First Vice President of the Islamic Republic of Iran Dr. Ishaq Jahangiri, The two countries and a group of businessmen and representatives of companies in both countries.

[yota691]

Iran officially begins its ties with Syria via Iraq

 

 

 Twilight News    
 one hour ago

Iran has begun to build a highway between the cities of Kermanshah, Beeston and Hamil as part of a project to link Syria to Iran via Iraq and facilitate transit between the three countries. 
Iranian Minister of Roads Mohammed Islami said at the inauguration ceremony that the length of the road would be 141 kilometers and would invest about 1.5 trillion Iranian tomans. 
He added that the private sector will contribute to the implementation of the project, and will have a participation rate of 70%, which means that the private sector will carry out most of the work of the project. 
He said he hoped to achieve this part faster with the help of the private sector and the approval of banks to grant more financial facilities.
Earlier, Assistant Minister of Roads and Construction of Iranian cities Khairullah Khadmi announced that 1,200 kilometers of roads and railways are being completed in Iran. "There are 3295 kilometers of railway projects currently under construction, of which 970 kilometers are ready and the rest will be launched until early Next year". 
It is noteworthy that the project linking Kermanshah, Peston and Hamel across the highway is part of a strategy aimed at increasing cooperation in various fields, especially trade between Syria, Iraq and Iran.

Keywords: 

[Synopsis]

Just my opinion here, I suspect THIS is part of the Belt And Road Initiative to reinstitute the Old Silk Road. Eventhough it may look bad now with the current Insanian disposition, long term the economics will favor open movement of goods transiting through the associated countries ESPECIALLY with a NEW Iranian (NOT Insanian as NOW) secular Government FOR The Iranians. Physical infrastructure is just THAT - physical. The "regime" to "Government" will likely make ALL the difference for the transiting of goods via railroad and truck through Iran. I further suspect THIS fairly new activity WOULD NOT occur IF future economics were unfavorable.

 

The "Buffet Man" seemed to favor investing in transportation companies at the onset of projected economic upswings.

 

This could be a favorable indication.

 

A significant piece to the transiting of goods via the Old Silk Road is the last stubborn stronghold of ISIS in Syria along the Euphrates near the Bicraqi Iraqi border. I suspect a significant "lining up of events" will occur once THIS piece of Real Estate is cleared of ISIS so that Regional Countries can transit THEIR goods through THIS choke point. A week ago or so, two weeks were advertised. A pencil mark on the calendar, albeit, but possibly something to watch.

 

In The Mean Time...................................................................

 

The "Standard Disclaimer" Applies........................................

 

AND (of course)......................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

[yota691]

The Syrian pound is breathing a sigh of relief against the dollar

12/02/2019 10:47 AM | Number of readings:

 

The exchange rate of the Syrian Pound against the US Dollar has improved slightly in the parallel market, compared to the levels recorded in the previous week. The average exchange rate reached the level of 514 Syrian pounds for the purchase and the level of 518 Syrian pounds for the sale of the US dollar, after touching 538 liras. The following factors contribute to the following:

• The preference of speculators to abandon their positions in US dollars in order to profit against the expectations of the improvement in the exchange rate of the Syrian Pound due to the government's clear efforts to restore the exchange rate of previous levels and maintain stability, through the restriction and rationalization of imports and combating smuggling, which will reduce the demand for foreign exchange.

• The Central Bank of Syria to take some important monetary measures that would reduce the decline in the exchange rate of the Syrian Pound. Such as the announcement of the issuance of certificates of deposit in Syrian pounds, and talk about a proposal to raise interest on deposits in foreign exchange levels of up to 5%, in addition to the control of the Anti-Money Laundering and the Financing of Terrorism to the network of illegal trade in foreign exchange and unauthorized exchange (in Damascus and Hama), which paid Traders and black market swings by easing trading temporarily in US dollars.

• Sucking the market to the shock of news related to the legislation of an expanded US unilateral sanctions law on Syria that created a demand for the US dollar.

• The exchange rate of the US dollar against major currencies in global financial markets.

As for the official market, the exchange rate of the Syrian pound against the US dollar has stabilized at banks and exchange companies. The Central Bank of Syria continues to stabilize the exchange rate of the Syrian pound against the US dollar at 436 Syrian pounds to the US dollar. The foreign exchange rate in Syrian pounds at 434 Syrian pounds, and the exchange rate of the Syrian pound against the US dollar according to the official bulletin at 438 Syrian pounds for selling 435 Syrian pounds for purchase.

As for the exchange rate of the Syrian Pound against the Euro in the parallel market during this week, the exchange rate of the Syrian Pound has improved, so that the EUR / SYP dropped to 587 Syrian Pounds at the end of this week compared to the level of 610 Syrian pounds at the end of the week And the Syrian pound improved against the euro in the official market by 0.38%. The EUR / SYP dropped to 499.5 Syrian pounds at the end of this week compared to the level of 501.42 Syrian pounds at the end of the previous week.

[10 YEARS LATER]

Syria is a smoking ruin .... not seeing a swift economic recovery anytime soon.

[yota691]

Central Bank collects 131 billion pounds of certificates of deposit

11:52 - 21/02/2019

 

 

 

Follow - up - balances News 
Central Bank of Syria to collect some 131 billion Syrian pounds from the issuance of certificates of deposit, in a move designed to activate the monetary policy and adjust the money supply in the domestic market and the employment of funds in the projects. 
The Central Bank said that the number of certificates of deposit subscribed to the issue, which was closed yesterday, amounted to 1308 certificates worth 130.8 billion pounds distributed to 16 banks in Syria. The certificates were issued at an interest rate of 4.5% per annum and a nominal value of 100 million lira per certificate. 
"The Central Bank, thanks to the IPO, has been able to control the cash supply more effectively by activating a range of monetary instruments," said First Deputy Governor of Central Bank of Syria Mohammad Hamra. 
"When banks use part of the deposits in these certificates, they can accept more deposits from the population, thus withdrawing part of the surplus cash and using it for financing and employment."
Hamra pointed out that the issuance of these certificates will have positive effects on inflation and exchange rate, through the absorption of part of the money supply. 
On the plans of the forthcoming Syrian Central Bank, the official said that the bank plans to issue certificates of deposit in US dollars, and issuing certificates for Islamic banks

[yota691]

Conscious / Central Syrian: Collect 131 billion Syrian pounds from issuing certificates of deposit

 

 

21/02/2019 12:24:00 PM | Number of readings:

 Conscious / Baghdad / follow-up

On Thursday, the Central Bank of Syria raised  about 131 billion Syrian pounds from issuing certificates of deposit, in a move aimed at activating monetary policy and controlling the supply of money in the local market and the use of funds in projects.

The Central Bank said that the number of certificates of deposit subscribed to the issue, which was closed yesterday, amounted to 1308 certificates worth 130.8 billion pounds distributed to 16 banks in Syria. The certificates were issued at an interest rate of 4.5% per annum and a nominal value of 100 million lira per certificate.

"The Central Bank, thanks to the IPO, has been able to control the cash supply more effectively by activating a range of monetary instruments," said First Deputy Governor of Central Bank of Syria Mohammad Hamra.

"When banks use part of the deposits in these certificates, they can accept more deposits from the population, thus withdrawing part of the surplus cash and using it for financing and employment."

Hamra pointed out that the issuance of these certificates will have positive effects on inflation and exchange rate, through the absorption of part of the money supply.

On the plans of the forthcoming Syrian Central Bank, the official said that the bank plans to issue certificates of deposit in US dollars, and issuing certificates for Islamic banks.

[navira]

I love this:certificates will have positive effects on inflation and exchange rate, through the absorption of part of the money supply. Let's go Syria!

[NEPatriotsFan1]

It’s crazy to me that Syria has a better rate than Iraq after all the positive momentum in Iraq and Syria is in ruins. Also I raw has way more natural resources..... 

 

Let’s get the show on the road Iraq..... Daddy has some shopping to do! 

[Half Crazy Runner]

25 minutes ago, NEPatriotsFan1 said:

It’s crazy to me that Syria has a better rate than Iraq after all the positive momentum in Iraq and Syria is in ruins. Also I raw has way more natural resources..... 

 

Let’s get the show on the road Iraq..... Daddy has some shopping to do! 

 

You’re so right! That makes zero sense to me too. I can’t imagine what perfect environment Iraq is waiting for, but as you pointed out, Syria is a big ugly mess in comparison. 

So, get your poop in a group and your show on the road, Iraq! 

[Synopsis]

WHOOPS YOU ALL!!!

 

I initially thought there were two different currencies shown as noted in the original post.

 

HOWEVER, scrolling down further in Wikipedia, the 2010 series notes are shown AND are the same ones in @Butifldrm‘s posted news articles.

 

So, Sorry! Never Mind!!!

 

Go Moola Nova!

 

Here is a screen shot of the Syrian 50, 100, AND 200 Pound notes:

 

50 pounds
Arabic obverse: Citadel of Aleppoand the Norias of Hama.	English reverse: al-Assad National Libraryand the Abbasiyyin Stadium.

100 pounds
Arabic obverse: Philip the Arab and the Roman theatre of Bosra.	English reverse: The Hejaz Train Station of Damascus.

200 pounds
Arabic obverse: Statue of Saladin and the Tomb of the Unknown Soldier in Damascus.	English reverse: Cotton weaving; energy plan

 

https://en.m.wikipedia.org/wiki/Syrian_pound

 

Here is the pic of the notes from the article @Butifldrm posted (Thank You @Butifldrm!!!).

 

 

21/02/2019 12:24:00 PM | Number of readings:

 

Maybe BABY it is just me but THESE BABIES lookie like they are two entirely DIFFERENT currencies!!!

 

ANYBODY offer ANY assistance in offering the ACTUAL currency shown in @Butifldrm’s post???!!!

 

Go Moola Nova!

Edited February 22, 2019 by Synopsis

[Half Crazy Runner]

4 minutes ago, Synopsis said:

Here is a screen shot of the Syrian 50, 100, AND 200 Pound notes:

 

50 pounds
Arabic obverse: Citadel of Aleppoand the Norias of Hama.	English reverse: al-Assad National Libraryand the Abbasiyyin Stadium.

100 pounds
Arabic obverse: Philip the Arab and the Roman theatre of Bosra.	English reverse: The Hejaz Train Station of Damascus.

200 pounds
Arabic obverse: Statue of Saladin and the Tomb of the Unknown Soldier in Damascus.	English reverse: Cotton weaving; energy plan

 

https://en.m.wikipedia.org/wiki/Syrian_pound

 

Here is the pic of the notes from the article @Butifldrm posted (Thank You @Butifldrm!!!).

 

 

21/02/2019 12:24:00 PM | Number of readings:

 

Maybe BABY it is just me but THESE BABIES lookie like they are two entirely DIFFERENT currencies!!!

 

ANYBODY offer ANY assistance in offering the ACTUAL currency shown in @Butifldrm’s post???!!!

 

Go Moola Nova!

 

Great catch Synopsis! And no, it’s not just you. Those are totally different currencies 😱