Value of Syrian pound continues to decline against US dollar
QAMISHLI, Syria (North Press) – The value of the Syrian pound (SYP) continues to drop rapidly against the US dollar, as the exchange rate of one dollar reached 14,500 SYP, on Tuesday, in most Syrian areas.
The Central Bank of Syria raised on Tuesday the exchange rate of one US dollar against the Syrian pound from 10,100 to 10,300 SYP, according to this morning’s bulletin of the Bank.
In the city of Qamishli, northeast Syria, the exchange rate reached 14,600 SYP for selling and 14,400 SYP for buying, exchange dealers told North Press.
In Hasakah, it reached 14,500 SYP for selling and 14,400 SYP for buying, according to the Syrian Pound Today website.
In Damascus, the exchange rate reached 14,100 SYP for selling and 13,900 SYP for buying.
In Aleppo, the exchange rate reached 14,400 SYP for selling and 14,200 SYP for buying. In Idlib, it reached 14,500 SYP for selling and 14,400 SYP for buying.
Syria has been experiencing a severe economic crisis for several years. 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.