(EQTSAD- Video)- The Syrian Pound came into being in onset of the French Mandate in 1919.
During that time one Syrian Pound was equal 20 French Francs.
Syria and Lebanon used this currency which was equal 100 penny until they were separated in 1939
After the Syrian independence from France in 1947, the Dollar was adopted as the standard to value the Syrian Pound. Back then, one dollar was equal 2.19 Syrian Pound.
In 1953, the first Syrian Pound was coined independent from France.
Before Hafez al-Assad took power in the beginning of 70s, one dollar was equal 3.65 Syrian Pounds, what means the Syrian Pound between 1947 and 1970 had lost only 66% of its value in spite of the political and security turmoil in Syria.
The Syrian Pound did not endure long; it completely deteriorated during
Hafez al-Assad rule.
One dollar was equal 46 Syrian Pounds and the Syrian Pound had also lost 1173% of its value during Assad the father rule.
During Bashar al-Assad rule that began in 2000, one dollar is equal to 500 Syrian Pounds;
Meaning the Syrian Pound lost 1000% of its value during the Assad son rule.
What will happen then if Bashar al-Assad remained in power until 2021?
5 years was sufficient for a deterioration rate of 1000% .
If the situation remained the same in Syria, the Syrian Pound will deteriorate in a similar rate in the next 5 years. And the dollar will equal 1000 Syrian Pounds in 2021
That’s If the Syrian economy did not collapse. That’s how the Syrian Pound has lost more than 2000% of its value during the Assads’ era.
So what if the Assad rule lingered for another half century?
(Translation by Rana Abdul)
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