Economic analyst Hamid Saif Eldin told "Sham": The continuation of the exchange rate gap reflects cumulative imbalances, and their treatment requires comprehensive reforms.
Details:
Economic analyst Hamid Saif Al-Din confirmed in an exclusive interview with Dama News that the continuation of the exchange gap reflects a cumulative monetary and economic imbalance related to the limited foreign currency, weak trust in banks and monetary policy mechanisms, and emphasized that the solution requires integrated reforms that go beyond temporary interventions.
Seif Eldin explained that the official price of the dollar at the beginning of November 2026 amounted to 122 new pounds, while in the parallel market it approached 145 pounds, a difference of 18.9%, which weakens the role of the official bulletin as a reference for transactions as a result of the lack of connection to the reality of supply and demand.
He pointed out that the actual unavailability of the dollar at the official exchange rate through the usual channels pushes traders and importers towards the exchange companies and the parallel market, which reinforces the presence of the unofficial exchange rate in determining the costs of goods and services.
He attributed the widening of the gap to the limited resources of the foreign exchange compared to the high demand for it due to weak exports and the inflation of the import account such as fuel and consumables, in addition to the faltering withdrawals and transfers in the banks, and the change in monetary decisions, which caused citizens to leave the dollar as a hedge outside the banks.
Saif al-Din warned against the spread of the crisis to the pricing of goods in Damascus based on an "implicit dollar" ranging from 182 to 187 new pounds, a level that exceeds the exchange rate, which imposes additional burdens on consumers and high living costs resulting from changing pricing bases.
Explain that responsibility for the imbalance is shared; The Central Bank of Syria directly manages the monetary policy and sets a price that is not available to traders, while the government bears the responsibility of taking care of the weak production, the trade deficit and the energy bill, while the speculators benefit from the environment of the dollar shortage and lack of transparency without being the main reason for the appearance of the gap.
He saw the unification of the exchange rate as a necessary goal, warned against its sudden implementation without sufficient reserves to prevent new waves of speculation and inflation, and called for a gradual path that examines the official rate regularly according to stated rules and realistic indicators, instead of a long stabilization followed by sudden adjustments.