Syria to abandon dollar peg in July

The governor of Syria's central bank, Adib Mayelah, announced that the country will abandon the Syrian pound's peg to the dollar in an effort to stem rising costs and inflation.

The currency will be linked to special drawing rights, which are certificates issued by the IMF that represent a basket of currencies including the dollar, euro, yen and pound sterling, from the middle of next month.

The Syrian pound was pushed lower against the euro last year by a 10% fall in the dollar, which forced

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