Syrian Pound’s value drops against USD across Syria
QAMISHLI, Syria (North Press) – The exchange rate of the US dollar rose against the Syrian pound on Monday across Syria, whereas the Central Bank of Syria maintained the latest exchange rate it had set.
In Damascus, the exchange rate reached 10,650 SYP for selling and 10,500 for buying. The exchange rate in Idlib Governorate, northwest Syria, was 10,600 for selling and 10,550 for buying, while in Aleppo it reached 10,750 for buying and 10,900 for selling.
In the city of Qamishli, northeast Syria, the exchange rate is 10,650 SYP for selling and 10,600 for buying, exchange dealers told North Press.
In Hasakah, northeast Syria, the exchange rate is 10,550 SYP for buying and 10,700 for selling, while in Raqqa it has reached 10,450 SYP for buying and 10,550 for selling.
The Central Bank maintained the exchange rate of the USD against the SYP at 9,500 per dollar.
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.