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Central Bank of Syria,C* banknotes reserve equals currency put into circulation.

DAMASCUS, (SANA)- Central Bank of Syria on Monday underlined that the reserve of the banknotes equals the currency put in circulation, adding "what is being reported about contracts of printing currency is part of the misleading media campaign against Syria."

"Printing new banknotes comes in light of a studied plan put in 2005 to replace the old and bad paper money and put new ones into circulation with more complicated security specifications to prevent them from counterfeit," The Central Bank said in a statement.

In a relevant context, The Central Bank of Syria clarified that its reserve of the Syrian paper money equals the currency put into circulation estimated at 600 billions SYP.

The Bank reiterated that all web sites reporting news about verifying a contract signed between Central Bank of Syria and the Austrian Printing House are baseless.

They distorted the context included in the foreign sites as part of the flagrant campaign against Syria.

"Statements of the Austrian Deputy Finance Minister, Spokesman of the Austrian Printing House clarified that the said contract was signed in 2008 and it is about to be implementedC* there is no delivery for any new banknotes in the near future," Central Bank of Syria concluded.


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Publication:Syrian Arab News Agency (SANA)
Geographic Code:7SYRI
Date:Aug 9, 2011
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