Exchange rate of USD skyrockets against SYP
QAMISHLI, Syria (North Press) – The exchange rate of the USD against the Syrian Pound (SYP) rose on Monday across Syria.
In Damascus, the exchange rate reached 9,700 SYP for selling and 9,600 for buying. The exchange rate in Idlib Governorate, northwest Syria, was 9,650 for selling and 9,600 for buying, while in Aleppo it reached 9,800 for buying and 9,900 Syrian pounds for selling.
In Qamishli and Hasakah, northeast Syria, the exchange rate was 9,700 SYP for selling and 9,600 for buying, exchange dealers told North Press.
The exchange rate in Raqqa has reached 9,700 SYP for buying and 9,800 SYP for selling.
The Central Bank of Syria raised the exchange rate of the USD against the SYP from 8,500 to 8,800 per dollar in the bulletin of transfers and exchange, with an increase of 300 Syrian pounds.
Syria has been experiencing a severe economic crisis for several years, with one of the main drivers being high inflation rates. The inflation rate in Syria has skyrocketed due to a combination of factors, including the ongoing civil war, economic sanctions, and a shortage of essential goods.
The high inflation rate in Syria has had a devastating impact on the country’s population, with many struggling to afford basic necessities such as food, housing, and healthcare. The ongoing conflict in Syria, coupled with the economic crisis, has led to a humanitarian catastrophe, with millions of Syrians displaced and in need of aid.