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Syria to peg currency to SDR
LONDON — Syria plans to remove the pound from its U.S. dollar peg and link it to the International Monetary Fund’s special drawing rights (SDR) in the first half of 2007, the central bank governor told Reuters on Monday.
“We will change the peg for the Syrian pound from the (U.S. dollar) to the SDR. At present the Syrian pound is pegged to the dollar at 52 pounds to the dollar. We plan to peg it to the SDR in the first half of 2007, perhaps in May or June of next year,” Adib Mayaleh, Governor of the Central of Syria, said on the sidelines of a Commonwealth Business Council investment summit.
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