Syria sends first Swift message to New York Fed, central bank governor says

BY Reuters | ECONOMIC | 11/20/25 09:17 AM EST

Nov 20 (Reuters) - The Syrian central bank on Thursday sent its first Swift message to the Federal Reserve Bank of New York, central bank Governor AbdulKader Husrieh told Reuters.

"We sent (a) greeting message to all our international correspondent banks. We started with the Federal Reserve," Husrieh said. "We're telling them that ... we are back to the international financial system, and we are looking forward to long-term business relationships."

Syria needs to make transfers with Western financial institutions in order to bring in huge sums for reconstruction and to kick-start a war-ravaged economy. (Reporting By Dan Burns; Editing by Chizu Nomiyama )

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

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