Value of SYP continues to plummet against USD across Syria
QAMISHLI, Syria (North Press) – The Syrian pound’s value continues to drop against the US dollar as it plummeted to 12,500 SYP per dollar in many regions in Syria.
In the Syrian capital of Damascus, it reached 12,300 for selling and 12,100 SYP for buying.
In the city of Qamishli and Hasakah, northeast Syria, the exchange rate is 12,500 SYP for selling and 12,400 for buying, exchange dealers told North Press.
In Raqqa Governorate, northern Syria, it reached 12,200 SYP for buying and 12,300 for selling.
In Idlib, northwest the country, it reached 12,350 SYP for selling and 12,250 for buying.
In Aleppo, it reached 12,300 for buying and 12,500 for selling.
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.