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Sharp Decline in Syrian Pound Against US Dollar

The Syrian pound has suffered a slump against the US dollars in opposition controlled areas, adding to the economic woes of those who live there writes Iqtissad.
Sharp Decline in Syrian Pound Against US Dollar

Since Saturday, the local exchange rate of the Syrian pound against the US dollar has declined in opposition-held areas. 

In eastern Raqqa province, the dollar reached an unprecedented rate due to the ongoing offensive by the regime and Russia in northwest Syria. In the northeast, the dollar reached 617 Syrian pounds at the buy rate and 619 pounds at the sell rate.

While in Hassakeh, Manbij and Qamishli, it reached 615 pounds to buy and 617 pounds to sell. 

In al-Bab and Sarmada, it was recorded at 612 pounds to buy and 614 pounds to sell. While in Aleppo, Idleb and Azaz, it was at 610 pounds to buy and 612 pounds to sell. 

In Hama, it was recorded as 607 pounds to buy and 609 pounds to sell.

Finally, in Damascus, the dollar rose to its highest rate in two months, recorded at 608 pounds to buy and 610 pounds to sell.

The central bank kept “remittances and imports” at 434 pounds, as well as “private intervention” across banks at 436 Syrian pounds.


This article was 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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