Syrian markets witnessed a new drop in the exchange rate of the Syrian pound against foreign currencies on Monday, while the price of a gram of 14 carat and 21 carat gold rose to SYP 6,400 and SYP 7,500, respectively.
The Syrian pound opened at SYP 215 to 1 dollar buy and SYP 217 sell on Monday morning, while in the black market it reached SYP 216 sell and SYP 214 buy in the provinces of Aleppo and Idleb in northern Syria.
In Quneitra and Daraa, in southern Syria, the exchange rate rose from SYP 207 sell to SYP 214 sell and SYP 212 buy, indicating that the value of the Syrian pound has become equal in the central, southern, coastal and eastern regions of the country.
These black market prices come at a time when the Central Bank announced SYP 184 buy and SYP 185 sell as an official exchange rate, while some traders from Damascus confirmed to Siraj Press that the Central Bank buys the dollar and doesn’t sell it, contrary to what it announces.
An economic analyst confirmed to Siraj Press that "the Syrian pound will witness a greater collapse against foreign currencies in the coming days". As for the raise in fuel prices, the analyst pointed out that "the number of public sector employees shrank dramatically in the past four years, so the regime raised employees' salaries by $20 in order to appease supporters after a hike in fuel prices".
Translated and edited by The Syrian Observer