Syria to Abandon Its Peg to Dollar, Link Currency to IMF Drawing Rights

(Bloomberg) -- Syria will abandon its currency's peg
to the U.S. dollar and link it instead to International Monetary
Fund special drawing rights, according to the central bank.

The government must ratify the decision before the Syrian
pound can be linked to the drawing rights, said a spokesman who
declined to be named because of central bank rules. The value of
SDRs is determined against a basket of currencies including the
dollar, euro, yen and U.K. pound.


Read more at Bloomberg Currencies News