It appears that talk of a Syrian Central Bank intervention to save the Syrian pound, which has undergone a historic collapse, has not salvaged its value against major currencies. The Syrian pound continued to deteriorate against foreign currencies in the Syrian exchange markets, passing the 710 pound barrier against the dollar a few days ago.
The Syrian pound exchange rate, according to the Syrian Pound Today website on Tuesday, in markets in the capital Damascus, was buying for 725 and selling for 728, while the euro was buying for 801 and selling for 807, and the Turkish lira was buying for 126 and selling for 127.
In Aleppo, the dollar against the pound was buying for 723 and selling for 726, while the euro was buying for 799 and selling for 804, and the Turkish lira was buying for 125 and selling for 127.
In Idleb, the exchange rate of the US dollar was buying for 698 and selling for 702, the euro was buying for 771 and selling for 778, and the Turkish lira was buying for 121 and selling for 123.
For months, the Syrian pound has seen a historic decline across the country against foreign currencies, caused by the economic asphyxiation among residents and the weakness in purchasing pressure, as well as the Syrian regime’s inability to intervene to improve the exchange value.
The prices of goods in Syrian markets in regime-controlled areas have increased 20 percent with the dollar price rising against the Syrian pound by more than 12 percent.
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.