The decree also prohibits the pricing of commodities or services in currencies other than the local currency, which has lost more than half its value on the official market since the beginning of the uprising in March 2011.

Commenting on the decree, the Governor of the Central Bank of Syria (CBS) Adib Mayyala said that the aim was to defend the Syrian pound and keep it strong. He added that the decree seeks to “prevent the dollarization of the economy,” while at the same time it will allow for the prosecution of speculators trying to exploit the current situation in order to achieve illegal gains. (CONTINUED - 690 WORDS)