Mixed Reactions as Dollar Drops Sharply Against the Syrian Pound

Dollar selling price was 30 Syrian pounds lower in Damascus markets overnight Tuesday, Alsouria reports

The dollar recorded a qualitative decline against the Syrian pound on Tuesday, but many have called on Syrians not to be led by the new “imaginary” figure, which is unlikely to last.

The sale price of the dollar dropped to 410 Syrian pounds in the markets of Damascus, 30 pounds lower than the previous day.

The new price has attracted widespread reactions from Syrians on social media, especially since the decline did not coincide with a similar drop in other major currencies.

Some commentators stressed that the decline was the result of "a desperate regime” which is attempting to “put makeup on the face of its clinically dead economy."

Syria Steps, a pro-regime website, quoted a banking source as saying: "The insistence of citizens on selling their dollar, fearing its decline, will make them partners in the speculative process, but the results and profits will be recovered later by the real speculators."

The source called on those who are in possession of dollars to keep them and not be compromised under the pressure of the tactics of speculators, who will “eventually benefit from speculative operations.”

This article was translated and edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.


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