New Crash for the Syrian Pound

The Syrian pound continues its downward trajectory, as the costs of medicines and foodstuffs rise reports Sowt al-Asima.

On Tuesday, the Syrian pound saw a minor decline against foreign currencies on the black market in the capital Damascus.

The exchange rate of the US dollar reached 620-625 pounds on the black market and 434-438 at the Central Bank, while the rate of the euro reached 670-675 on the black market.

The prices of consumer goods in the markets witnessed relative stability after an increase of 15 percent, coinciding with the price of foreign currencies rising last week.

The decline in the pound’s value has impacted the prices of imported and smuggled medicines in the capital’s pharmacies, in addition to foodstuffs and cosmetics, at rates of between 15-20 percent.

The well-known electronic platform SYRIA STOCKS closed its website, mobile apps and Facebook page due to the ongoing speculation and an inability to confirm real prices, saying that it was carrying out renovations to the site that would continue for days.  


This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.


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