Syria central bank to launch foreign exchange and gold market in Damascus

Thu Apr 23 2026

The Central Bank of Syria announced on Thursday plans to launch the Damascus Market for Foreign Exchange and Gold in a move aimed at strengthening monetary policy and enhancing financial stability.

Central bank governor Abdulkader Husrieh said the initiative is part of a broader strategy to create a balanced and transparent exchange market, in line with government Decision No. 189 of 2025.

In a statement posted on Facebook, Husrieh said the electronic platform, the first of its kind in Syria operating under international standards, is designed to regulate trading, unify pricing benchmarks and reduce market distortions by reflecting supply and demand in real time.

He said the market will improve transparency by providing reliable data and continuous updates, helping build confidence among traders and limiting unregulated speculation.

The platform is also intended to eliminate the black market and other parallel trading systems that have operated for decades alongside the official exchange market.

Husrieh said the system will be managed through a modern digital platform aligned with global best practices, with participation from entities committed to international standards, to improve efficiency in both foreign exchange and gold trading.

The move is part of a wider set of measures to restructure the exchange market and related financial activities, with the central bank reaffirming its commitment to advancing economic recovery and maintaining currency stability.

Source: https://sana.sy/