Syria: Annual Remittances score USD1.5bln
(MENAFN) A bank source said to Damas Post that the volume of external transfers arriving to Syria annually scores about USD1.5 billion.
This amounts to about 651 billion Syrian pounds, according to the exchange rate officially set at 434 Syrian pounds to the dollar.
The remittances, which are transferred by Syrians to their families inside the country, have been one of the most important sources of income in recent years.
In light of no clear official statement about the total or average daily value of remittances, sources told Damas Post that the daily value of remittances is a little more than USD4 million.
Meanwhile, the Syrian Central Bank didn't make any comments about the real value of these transfers, saying that it is keen not to reveal any numbers regarding foreign currency that speculators could exploit to their benefit.
It's worth mentioning that the Syrian Central Bank has issued a statement in which it allowed individuals to transfer any amount in foreign currency into Syria so that they can receive it in foreign currency, keep it in their bank account or exchange it for Syrian pounds within the conditions noted in the decision.
This amounts to about 651 billion Syrian pounds, according to the exchange rate officially set at 434 Syrian pounds to the dollar.
The remittances, which are transferred by Syrians to their families inside the country, have been one of the most important sources of income in recent years.
In light of no clear official statement about the total or average daily value of remittances, sources told Damas Post that the daily value of remittances is a little more than USD4 million.
Meanwhile, the Syrian Central Bank didn't make any comments about the real value of these transfers, saying that it is keen not to reveal any numbers regarding foreign currency that speculators could exploit to their benefit.
It's worth mentioning that the Syrian Central Bank has issued a statement in which it allowed individuals to transfer any amount in foreign currency into Syria so that they can receive it in foreign currency, keep it in their bank account or exchange it for Syrian pounds within the conditions noted in the decision.
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