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Stories with subject: Reserve assets
  • Syria moves to flexible exchange rate as pound hits new low 
    Updated: May-10-16 4:10 pm

    BEIRUT - Syria's Central Bank ordered money changers to exchange currency at an unprecedented 620 Syrian pounds to the dollar and announced it would reevaluate the rate on a daily basis, in a move that economists say amounts to jettisoning the fixed exchange rate that was once the bedrock of the Syrian economy.