Dollar Witnesses Unprecedented Rise in Opposition-Held Areas

Some observers attribute the rise to the effects of Russia's air campaign in rebel-held areas of Syria

The dollar exchange rate witnessed an exceptional hike in a number of opposition-controlled regions on Saturday, surging above rates in regime-held areas.

Rates remained stable in Damascus on Saturday evening, buying and selling at 337 and 339 pounds on the dollar, respectively, while the dollar rose in northern Aleppo, Idleb, and the eastern region of Syria to reach 340 pounds.

According to the Syria Stocks and Syrian Stock Satellite Channel Facebook pages, which are dedicated to monitoring the currency markets in Syria, the dollar recorded a 341 pounds buy and 343 pounds sale in Deir-ez-Zor and Raqqa.

The dollar peaked at the same price in other opposition-held areas such as Aleppo, the northern countryside of Aleppo and Idleb.

Reasons behind the exceptional rise are not yet clear, as the dollar exchange rate was previously lower in opposition-held areas.

Some observers have connected this rise to the Russian air strikes in Syria, while others claim the hike is the result of manipulation and currency trading.

This article was translated and edited by The Syrian Observer

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