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


yota691
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4 hours ago, Synopsis said:

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!

:pirateship:

 

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

 

50 pounds
OldSyrian50front.pngOldSyrian50back.png
Arabic obverse: Citadel of Aleppoand the Norias of Hama. English reverse: al-Assad National Libraryand the Abbasiyyin Stadium.
100 pounds
OldSyrian100front.pngOldSyrian100back.png
Arabic obverse: Philip the Arab and the Roman theatre of Bosra. English reverse: The Hejaz Train Station of Damascus.
200 pounds
OldSyrian200front.pngOldSyrian200back.png
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:

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

 

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!

:pirateship:

 

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  • yota691 changed the title to Syrians save $ 2 billion in 13 banks

Syrians save $ 2 billion in 13 banks

Economy | 02:24 - 09/06/2019

 
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Follow - up to the balance of News 
The value of deposits Syrian clients have 13 private banks operating in Syria to about two billion dollars (more than a thousand billion Syrian pounds), without the figure includes bank deposits among them. 
Al-Watan newspaper said that this figure included the financial statements of 13 banks out of 14, where the Bank of Jordan has not yet published its data. 
The data showed that total customer deposits in 2018 rose by 24 percent compared to 2017. 
The value of customer deposits in Islamic banks reached about 243.7 billion Syrian pounds at the end of 2018, an increase of 36.36 percent over 2017. 
Bemo Saudi Fransi Bank Customers, followed by the International Bank for Trade and Finance, then the Bank of Syria and Overseas.
It is noteworthy that 14 private banks operating in Syria achieved profits of 9.7 billion pounds in the first nine months of last year, while Islamic banks benefited from 5.57 billion.

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  • yota691 changed the title to Farewell to the payment lines. The electronic payment system enters Syria

Farewell to the payment lines. The electronic payment system enters Syria

Farewell to the payment lines. The electronic payment system enters Syria

 Friday 26 July 2019 - 11:26 GMT

 

Governor of the Central Bank of Syria, Hazem Karfoul, said that the Central Bank is considering the launch of the electronic payment project, which is an important financial and social component of the country.

 

World - Syria

The governor of the Central Bank of Syria made the remarks during an interview with Sputnik, in which he said that the bank is studying the project in order to start work.

"We can not hide the importance of this project and the speed of its launch given its financial services and the necessary financial and social support," he said.

He spoke about the importance of the development of the financial services sector, which increases the ability of institutions experiencing financial problems.

It is noteworthy that Syria suffers from a series of sanctions, which led to the deterioration of its local currency, to comment earlier on the reasons for the high exchange rate of the US dollar, and it falls within the systematic campaign to weaken the Syrian pound and the economy and destabilize confidence in the central bank and its procedures and push citizens to fear and abandon their currency National.

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3 hours ago, yota691 said:

Governor of the Central Bank of Syria, Hazem Karfoul, said that the Central Bank is considering the launch of the electronic payment project, which is an important financial and social component of the country.

 

MY (NOTE: MY) opinion is urgency is HERE in Syria due to the positive developments regarding the IMPLEMENTATION of the Olde, er, NEW Silk Road ReStart via the Belt AND Road Initiative.

 

Clean up efforts are STILL being conducted North AND East Of The Euphrates IN Syria to rid ISIS remnants. WHY, pray tell, the "thorough" "cleaning" THAT is going on in Iraq NOW, too???!!!

 

THEE "train" may HAVE BEEN an olde freight train lumbering along but NOW looks more like a MODERN BULLET TRAIN. I just hope the MODERN BULLET TRAIN stops "gently" AND "often" ENOUGH FOR US!!! LOOKS LIKIE SOME LIGHT AT THE END OF THE TUNNEL!!!

 

:backflip:   :backflip:   :backflip:

 

Go Moola Nova!

:pirateship:

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  • 3 weeks later...

Government newspaper: $ 35 billion the volume of Syrian money smuggled to only four countries

Economy | 12:39 - 17/08/2019

 
image
 
 

Follow-up Mawazine News 
According to the newspaper "Tishrin" Syrian government that the rate of money smuggling from the country rose during the war years, and recorded rates not seen in Syria. 
Estimates of what was announced in only four countries amounted to $ 35 billion. 
The paper quoted judicial sources that 96 cases of smuggling of money were registered before the courts last year, while the first half of this year recorded 15 lawsuits. 
The financial judge in Damascus, Ahmed Bellok told the newspaper that the value of money smuggled in some cases ranging from 200 to 300 million pounds, while the head of the Central Agency for Financial Supervision Mohammed Barq said that 12 decisions were issued in the first half of this year. 
Economic researcher Rasha Seroub said that "it is difficult to make estimates of the volume of capital outside Syria, especially since a large part of it was deposited in banking bodies subject to banking secrecy."
"Some figures can be investigated when they are invested," she said. "Some of the countries to which the Syrians and their money go, such as Egypt, Turkey, Lebanon and Jordan, have stated." 
The newspaper quoted Serope that the investments of Syrian businessmen and venture capitalists in Egypt since the beginning of the Syrian crisis, estimated at 23 billion dollars. 
In Jordan, the total capital of Syrian companies registered with the Jordanian Companies Control Department exceeded 310 million dollars for more than 4,000 companies. In Turkey, investments belonging to Syrians amounted to 1.5 billion dollars. 
In Lebanon, most of the money was concentrated in the form of deposits rather than investments.
Serope adds that 2012 was the year during which the largest amount of Syrian money was released, while the years 2013-2016 saw some stability, and the value of the smuggled funds would rise again and clearly in 2017. 
“Given the shadow economy estimates, We will find that the money coming out of Syria far exceeds what is estimated. "

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  • yota691 changed the title to 1982 Date of issuance of banknotes in Syria .. Who is the hero of the Syrian pound?

1982 Date of issuance of banknotes in Syria .. Who is the hero of the Syrian pound?

Economy | 11:09 - 20/08/2019

 
image
 
 

Follow - up - News balances 
used to Syrian citizens to see pictures of political or historical figures known on paper currency, but this rule did not apply to the generally accepted champion of paper per the Syrian pound. 
Perhaps many Syrians do not know the character who decorated the Syrian pound banknote for years, although it has accompanied them since 1982, the date of issuance of banknotes of this category. 
Many may be surprised that the photo of the person on the banknote is of a craftsman named Diab Abdullah Fares, from Harasta in Damascus countryside, born in 1933. 
The reason for his photo printing on the coin is because he was awarded the title of production hero in a glass factory on the outskirts of Damascus. Damascus in the foot.
Known information about Fares, he was sent a training course by the glass factory to Belgium in the seventies of the last century, and returned to Syria to work there until he retired in 1980, and died at the age of 72 years. 
It is funny stories that happened with the literal that one day he was stopped by a police and asked him his identity card replied Diab: "It 's in your pocket and took out his Syrian paper lira and said to him:" This is my identity, "according to the published site" contemporary Syrian history. " 
Began The Syrian pound has been operating since 1948 after the separation of the Bank of Syria and Lebanon, which was issuing the Syrian-Lebanese 
pound, and the pound is divided into 100 piasters.
Syrian banknotes carry pictures of well-known political and historical figures. 
The 25-pound paper carries the image of the historical leader Salah al-Din al-Ayyubi, while the image of the kingdom of Zenobia is found on the 100-pound paper. 
As for the value of the Syrian currency, it is worth noting that it declined with the ignition of the Syrian crisis, where it dropped from the limits of 50 pounds to the dollar in 2010, to be traded on the black market at 610 pounds to the dollar, that is, the dollar has risen 12-fold against it in the past nine years. /s

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  • yota691 changed the title to The exchange rate of the dollar exceeds the reasonable against the Syrian pound

The exchange rate of the dollar exceeds the reasonable against the Syrian pound

By AhadNA3 21/08/2019 03:49 PM | Number Of Hits: 57

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The exchange rate of the dollar exceeds the reasonable against the Syrian pound

 

 

The US dollar has risen against the Syrian pound during the past few days on the black market, hitting record highs over previous periods.

According to the exchange rate table, the US dollar, on Wednesday, August 21, 2019, a  newhigh  against the Syrian pound to record 621 pounds in trading markets.

The exchange rate of the dollar exceeds the reasonable against the Syrian pound

According to the table has recorded the price of the dollar against the Syrian pound in today's opening trading 621 for sale, and 618 for purchase.

The price of the euro was 684 SP to buy, and 689 to sell.

The Turkish lira, which is still witnessing a significant decline against the dollar in international markets, recorded 107 Syrian pounds to buy, and 109 Syrian pounds to sell.

For its part, gold has witnessed a new rise in the Syrian jewelery markets, achieving unprecedented numbers so far.

The price of gold carat 18: 21,500 to buy, and 21600 to sell.

Caliber 21: 25,200 for sale, and 25,100 for purchase.

It is worth mentioning that the Central Bank of Syria establishes the price of the dollar against the Syrian pound by about 434 for foreign remittances, finance and commercial transactions.

files.php?file=156638689248385800_______986376290.jpg

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  • yota691 changed the title to The Syrian pound is at its lowest level in history
 
 
 2019/09/03 14:58:40
 

The value of the Syrian pound against the US dollar has fallen sharply, reaching the lowest level in the black market in history, according to the report "Syria Report" economic, on Tuesday.

Since the end of 2018, the Syrian pound began to lose again and gradually from its value on the black market, while the dollar exchange rate, on Tuesday, 650 pounds.

Jihad Yazigi, editor of the Syria Economic Report, told AFP that it was the "lowest rate in history", noting that the decline was "steep" since the dollar was at 500 lira in December 2018.

The Central Bank of Syria in turn set the official rate of the dollar exchange rate at 434 pounds.

Before the outbreak of the conflict in March 2011, the dollar was worth 48 Syrian pounds.

The depreciation of the Syrian currency is a tangible sign of the debilitating economy, with declining incomes and revenues and declining foreign exchange reserves.

Syria is also under US and European economic sanctions, which have caused further economic losses.

Syria's losses in the oil and gas sector alone during the years of the conflict amounted to $ 74.2 billion, according to the Ministry of Oil and Mineral Resources.

Syria has been plagued by a bloody conflict since its outbreak in 2011, which has killed hundreds of thousands, caused massive destruction of infrastructure and displaced about half of the population inside and outside the country.

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  • yota691 changed the title to Damascus issues a statement on the circulation of banknotes

Damascus issues a statement on the circulation of banknotes

Economy | 09:26 - 06/09/2019

 
image
 
 

The
Central Bank of Syria denied the withdrawal of any category of banknotes traded in the hands of citizens, with the assurance that the current category of 50 pounds of paper and metal along with the rest of the currency.
In a statement published on its website, Al-Markazi said that it is working on a plan to meet the needs of the market of small groups gradually since the end of 2018, by directing citizens, banks and other parties to exchange their obsolete banknotes with new banknotes of the same category, no matter what. Their quantity.
He added that during the fourth quarter of this year will be pumped more quantities of banknotes of small groups, in addition to coins through the operating banks to ensure widespread and fair distribution throughout the country.
The Central Bank said that the statement came in response to the many questions received to the Central Bank of Syria and circulating on the media regarding the scarcity of banknotes and coins of the category of 50 pounds in circulation and rumor of withdrawing this category of circulation.
The Central Bank concluded its statement that the Central Bank of Syria always seeks to maintain the existence of banknotes in good technical condition and valid for circulation of all cash categories in the hands of citizens, especially small groups.

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Syrian pound recorded an unprecedented low on the black market

Economy | 01:58 - 08/09/2019

 
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Follow - Mawazine News

The dollar exchange rate exceeded 675 pounds on the black market, on Sunday, recording an unprecedented decline since the start of the Syrian crisis.

Economists told Al-Watan Syrian website that the reasons for the decline of the country's currency are unclear, while others suggested taking criminal measures against those found guilty of speculating in the dollar, whether banks, people or events.
The experts stressed that the import finance policy should be reconsidered, perhaps withdrawing from it and left the subject to the private sector, with strict and strict restrictions on import except for the extreme need.
Others felt the need to control the exchange market urgently and immediately and seriously, through the closure of companies and exchange offices, and restrict the dollar to the basic need, through the state in full.
The devaluation of the Syrian pound coincides with the intensification of Western sanctions on the country, while Damascus seeks to alleviate the impact of these sanctions by encouraging foreign investment.
It is noteworthy that the Syrian authorities had hosted last Thursday the Damascus International Fair, which was attended by hundreds of local and foreign companies, and said that the exhibition sends a message of "victory" despite the sanctions imposed on the country.

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  • yota691 changed the title to The Central Bank of Syria announces the start of the implementation of the initiative

The Central Bank of Syria announces the start of the implementation of the initiative

By AhadNA3 14/10/2019 03:19 PM | Number Of Hits: 18

  
The Central Bank of Syria announces the start of the implementation of the initiative

 


The Central Bank of Syria, in coordination with a statement issued by the Damascus Chamber of Commerce announced the start of the implementation of the initiative "two currencies my strength."

The start of the intervention of the business sector through a special chamber account with the Commercial Bank of Syria to reduce the exchange rate of foreign currencies against the Syrian pound in the parallel market on Sunday 13/10/2019 after the completion of executive procedures in the Commercial Bank of Syria,

The contribution of businessmen in the foreign exchange market in addition to the continuous intervention by the Central Bank of Syria with direct and indirect tools; an important initiative that will improve the exchange rate of the Syrian pound in the parallel market against foreign currencies by controlling the fluctuations of supply and demand for foreign exchange,

The Damascus Chamber of Commerce has announced its commitment to the daily announcement of the foreign exchange rate in the parallel market, reflecting the reality of supply and demand for foreign exchange to cancel any role for speculative operations and the effects of social networking sites and applications that operate from outside the Syrian Arab Republic according to external agendas aiming to manipulate markets and pounds The Syrian Chamber of Commerce affirms full commitment to pricing imported and financed basic materials at the official exchange rate to ensure that the prices of goods in the local market do not rise. Dat for the main commodities through public banks and licensed to deal in foreign exchange. Finished 2

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  • yota691 changed the title to Expert reveals the reasons for the collapse of the Syrian pound

Expert reveals the reasons for the collapse of the Syrian pound

Economy | 12:45 - 18/11/2019

 
image
 
 

 

 

Follow - Mawazine News

Exchange rates of the Syrian pound on the black market varied on Sunday, but most prices were hovering around the level of 710 pounds to the dollar, according to the newspaper "Al-Watan" Syrian sources.
The sources confirmed the general stagnation of the movement in the market, there is no supply or demand little, in anticipation of the price will reach an unprecedented high levels, and were not within the circle of expectations when launching the initiative of the private sector to support the lira and the associated fund to finance import licenses.
As for the reasons that contributed to the decline of the lira, a source in the Syrian banking sector indicated that the exchange rate is affected in one way or another by what is happening in Lebanon, pointing out that Lebanese banks have placed restrictions on withdrawing deposits, not exceeding a specified weekly amount of $ 1500, and any amount that increases Therefore, it can be withdrawn in Lebanese pounds, at an exchange rate that is more than 15% lower than the prevailing market rate.
He added that these measures apply to the Syrians, including traders, which led to their resort to the "black" Syrian market to buy the dollar in low capacity to secure the US currency.
For his part, a member of the Board of Directors of the Damascus Chamber of Commerce, Hassan Azqoul, said that the Central Bank is announcing the new mechanism to finance imports of traders through the initiative fund within days, and that the issue is confirmed, and very soon, noting that he had contacted the Central Bank regarding the new instructions, as has been Discussed yesterday at a meeting in the room 

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  • 2 weeks later...
580-1.jpg?resize=780%2C405&ssl=1

 

Syrian President Bashar al-Assad on Thursday issued a public budget law for next year totaling $ 9.2 billion, without noticing the deficit of the electricity sector, which suffered huge damage during the war that lasted more than eight years.

The conflict in Syria since 2011 has caused enormous damage to infrastructure and caused huge losses to the economy, and the United Nations estimated more than a year ago the cost of destruction at about $ 400 billion.

The official Syrian news agency "SANA" that Assad issued the law to "determine the allocations of the state budget for fiscal year 2020 at a total amount of 4000 billion Syrian pounds."

The official exchange rate of the lira is currently 434 against the US dollar, according to the Central Bank of Syria, while the value of the lira fell sharply on the black market on Thursday to 800 pounds, the lowest level since the outbreak of the conflict.

The total value of the 2020 budget did not differ from this year's budget, but the new budget does not note the losses of the electricity company.

The members of the People's Assembly criticized during the budget debate sessions the size of the fiscal deficit, which increased by 54 percent from the current budget, according to the Syrian newspaper Al-Watan.

Finance Minister Mamoun Hamdan told the budget approval session two days ago that "not all deficits have been shown since the electricity company's deficit of $ 711 billion ($ 1.6 billion) remained outside the budget," it added. 2021 Budget.

During the years of the conflict, the electricity sector suffered major damage, estimated by the director of the Public Electricity Generation Corporation, Mahmoud Ramadan, as exceeding one trillion and 200 billion Syrian pounds, Al-Watan newspaper reported in September.

The budget comes a week after Assad issued a decision to increase the salaries of civilian and military workers, ranging from $ 37 to $ 46, benefiting more than 2.1 million employees and retirees.

Syrians are suffering from difficult living conditions with widespread unemployment and the devaluation of the local currency, which is a tangible sign of the debilitating economy, as incomes and revenues shrink and foreign exchange reserves fall.

Syria is subject to US and European economic sanctions that have caused more losses and a fuel crisis this year that has imposed our technology on quantities distributed to consumers.

With government forces now controlling more than 60 percent of Syria and spread to Kurdish guerrilla-controlled areas in the northeast, several officials, including Assad, reiterate that their country is facing a new war of economic blockade and sanctions.

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  • yota691 changed the title to The Syrian pound recorded the lowest level in the country's history

The Syrian pound recorded the lowest level in the country's history

By AhadNA3 02/12/2019 03:24 PM | The number of readings: 1

 
The Syrian pound recorded the lowest level in the country's history

 


The value of the Syrian pound on Monday reached its lowest level in the country's history since it began circulating in 1919.

It broke the 900-lira barrier against the US dollar, coinciding with a wave of anger among supporters of the price system, and the collapse of the lira was accompanied by an unprecedented rise in prices.

The lira recorded 905 in Damascus, 907 in Aleppo, 156 against the Turkish lira in Damascus and Aleppo, and 240 against the Saudi riyal in both cities.

The price of gold in Syria, has recorded 18-carat gold price 27827 Syrian pounds per gram, compared to 32465 Syrian pounds per gram of 21-carat gold.

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pretty sure the syria pound is traded electronically on Forex symbol SYP just in case anyone felt they need to hold it in physical paper form , u could buy/sell instantly on forex ....  disregard if its a known fact ....... cheers all

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  • yota691 changed the title to A banking expert reveals the size of the Syrians money in Lebanese banks

A banking expert reveals the size of the Syrians money in Lebanese banks

Economy | 09:33 - 09/01/2020

 
image
 
 

 

 

Follow-up - Mawazine News

Deposits of Syrians in Lebanese banks are estimated at about $ 45 billion currently, according to a study prepared by a Syrian banking expert and reported by Al-Watan.
According to the data contained in the study, prepared by the head of the Banking Department at the Faculty of Economics at Damascus University, Ali Kanaan, the Syrians deposits exceed 25.4% of the total deposits in the Lebanese banks amounting to about $ 177 billion.
Kanaan stressed that these estimates concern deposits of individual Syrians, investors and businessmen in particular, without counting the deposits of some banks and insurance companies, and when taking into account these bodies, the total deposits exceed $ 50 billion.
According to the study, the monetary and financial effects of the Lebanese crisis recently started to appear quickly, unprecedentedly, on the Syrian economy, and the Lebanese Central Bank took a number of monetary measures that would reduce the size of speculation and calm the Lebanese market, but these measures were directly reflected in The Syrian economy.
Among the most prominent of these measures is the payment of remittances received from abroad to the Syrians in Lebanon in Lebanese pound rather than in dollars, and this has deprived the Syrian economy of approximately 4 million dollars a day coming from Lebanon to Syria to finance and support Syrian families.
The Lebanese Central Bank raised the interest rate on deposits in foreign currency and in the Lebanese pound, which prompted Syrian depositors to go again to deposit in Lebanese banks and attract cash from Syria to Lebanon.
In his study, Canaan stated that Lebanon was financing Syrian imports in exchange for commissions, and goods entered Syria, then he stopped during the crisis, and the Syrians had to find another source of funding, which put pressure on the exchange rate of the Syrian pound and the high prices of imports.
The study showed that these effects appeared clear in the Syrian economy, and its impact was reflected on the devaluation of the Syrian pound by about 44% of its value within ten days since the end of October and the beginning of December of 2019.

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  • yota691 changed the title to The Syrian pound breaks the thousand mark against the dollar for the first time in its history
DF07E533-E8C5-4067-8FD2-95B002669C4E.jpe

The price of the dollar in Syria exceeded one thousand Syrian pounds, a barrier that the lira surpassed for the first time, amid unprecedented rises in the prices of all commodities.
Dealers and specialized pages stated that the Syrian pound has crossed the thousand mark, down against the dollar, after a period of instability that had witnessed exchange rates since the lira touched the thousand mark without exceeding it at the beginning of last month, to achieve rapid gains within days and rise by about 200 points against the dollar, accompanied With a wide campaign on the communication sites to support the Syrian pound, however, the state of the rise did not last long, and the lira returned to witness fluctuations in the house's rise and fall, but within a general downward trend, reaching today to the barrier of a thousand.
It is noteworthy that the Syrian Central Bank is still fixing the dollar exchange rate at 436 pounds, and it remains silent in the face of the deterioration witnessed by the local currency, a situation that has left its effects on all commodities in the country, which witnessed great increases, especially the prices that depend on Its ingredients are based on imported materials.

 

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