Further Depreciation of the Syrian Pound as Gold Price Soar

The value of the Syrian pound has dropped again, as the price of gold in the country has shot up writes Sowt al-Asima.

The Syrian Pound saw a new decline in its value against foreign currencies on Wednesday morning, amid great demand for foreign currencies in Damascus.

The exchange rate of the US dollar is 2,200-2,300 Syrian pounds, the euro sells for 2,600-2,700 pounds, the Turkish lira sells for 330 Syrian pounds, and 3,250 Syrian pounds for a Jordanian dinar.

The Central Bank maintained the old rates, with the exchange rate of the US dollar recording 1,256 Syrian pounds for banks and private banks as well as imports and exports, 1,250 pounds for external transfers, while the pound officially registered a decline against the high euro exchange rate globally, reaching 1,473 Syrian pounds.

Gold prices in the capital markets of Damascus witnessed a remarkable increase after remaining stable over the past two days, affected by the global rise of the ounce on the global stock exchange markets.

The price of a gram of 21-carat gold reached 105,000 Syrian pounds, which is 10,000 pounds per gram. Eighteen-carat gold amounted to 90,000 Syrian pounds for the gram.

The Syrian ounce reached 3,725,000 Syrian pounds, in line with its international price, which rose to 1,956 US dollars. The gold dollar registered 1,900 Syrian pounds.

The price of the Syrian pound gold saw an increase to 855,000 Syrian pounds, the 22-carat gold lira amounted to 900,000 Syrian pounds, while the price of raw silver reached 9,000 Syrian pounds for a gram.


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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