As our live tracker shows, Syria’s UN exchange rate gap has done a 180°!
Better than Assad-era aid siphoning? Of course, yes, but there is no point in subsidizing the humanitarian response while the country desperately needs hard currency.
With stringent and unjustified controls on liquidity, vague “forward guidance”, and a widening, albeit positive, gap with the black market, monetary policy under the new governor is a mess.