Syrian stocks rose again last week as investors sought to offset the rapid decline in the value of the Syrian Pound relative to the dollar.
The value of the US dollar continued to rise in the Syrian currency market, reaching 150 pounds last week before slightly receding today.
The Syrian stock exchange resumed last week its recent winning run with its main index rising 2.41 percent.
The dollar continued to rise in the Syrian black market as the Central Bank appears to have largely retreated from the market.
Syria’s stock exchange index fell below the 900 mark last week with trading volumes declining.
The US Dollar has continued to climb in black market trading to reach levels not seen since the beginning of the popular uprising two years ago.
The rally in Syrian stocks continued last week with the securities market index crossing the 900 mark for the first time since November 2011.
Trading volumes remained strong last week in the Damascus Securities Exchange as the market’s index gained 3.33 percent.
The Central Bank of Syria has raised the formal price of the US dollar, a move that is likely to increase again the cost of imported products and, hence, inflation.
Syria’s stock market index increased sharply this week to rise above the 800 mark for the first time since last November.