Search For Keyword.

Syrian pound hits new historic low

Thursday's exchange rate reached 8,000 Syrian pounds to the US dollar for the first time in a number of Syrian cities.

The Damascus dollar" had risen by 120 pounds, during the past 24 hours.

Compared to the prices recorded at noon on Wednesday, until 4:00 a.m. Thursday, the “Damascus dollar” rose by 100 new pounds, to become between 7,900 pounds for purchase and 8,000 pounds for sale.

The dollar recorded the same prices in Latakia, Tartous, Daraa and Sweida, as well as in Manbij.

The 8000 barrier is the lowest exchange rate for the Syrian pound in its history, against the dollar in Damascus.

However, the "Aleppo dollar" exceeded this barrier, and rose to reach between 7950 SYP in purchase and 8050 SYP in sales.

The dollar in Homs, Hama and Raqqa recorded the same prices as the "Aleppo dollar".

In Idlib, the dollar rose by 100 new pounds, to record between 8,000 pounds of purchase and 8,100 pounds of sales.

The dollar recorded in al-Bab, Afrin, Azaz and Deir Ezzor, the same prices as the "Idlib dollar".

As for al-Hasakah and Qamishli, the dollar rose to between 8,050 pounds in purchase and 8,150 pounds in sales.

Returning to Damascus, the euro rose 90 pounds, to become between 8,715 pounds for purchase and 8,815 pounds for sale.

The Turkish rose in Damascus, 5 Syrian pounds, to become between 402 pounds for purchase, and 412 pounds for sale.

The Turkish government in Idlib rose 5 Syrian pounds, to become between 407 Syrian pounds for purchase and 417 Syrian pounds for sale.

The exchange rate of the Turkish lira to the US dollar in Idlib ranged between 18.43 Turkish liras for purchase and 19.43 Turkish liras for sale.

For the third day in a row, the Central Bank of Syria raised the official price of selling "remittance dollars", but this time, it raised it to 100 pounds, instead of 50 pounds, to 7,500 pounds.

The Syrian economy has been battered by more than 12 years of war and crippling Western sanctions, pushing 90 percent of the population into poverty, according to the United Nations.

Syria’s official exchange rate has stood at around 7,015 pounds compared to 47 pounds to the dollar in 2011.

The unofficial rate means the currency is now worth almost 99 percent less on the black market than the official rate before the start of the conflict.

Syria’s civil war has killed nearly half a million people, displaced millions, fragmented the country and ravaged its economy and infrastructure. (With AFP)

EQTSAD
(78)    (73)
Total Comments (0)

Comments About This Article

Please fill the fields below.
*code confirming note