Value of Syrian pound rapidly plummets against US dollar
QAMISHLI, Syria (North Press) – The value of the Syrian pound (SYP) continues to plummet rapidly against the US dollar, as the exchange rate of one dollar surpassed 15,500 SYP, on Wednesday, in most Syrian areas.
The Central Bank of Syria raised on Wednesday the exchange rate of one US dollar against the Syrian pound from 10,300 SYP to 10,700 SYP, according to this morning’s bulletin of the Bank.
In the city of Qamishli, northeast Syria, the exchange rate reached 15,500 SYP for selling and 15,200 SYP for buying, exchange dealers told North Press.
In Hasakah, it reached 15,350 SYP for selling and 15,250 SYP for buying, according to the Syrian Pound Today website.
In Damascus, the exchange rate reached 14,700 SYP for selling and 14,500 SYP for buying.
In Aleppo, the exchange rate reached 15,000 SYP for selling and 14,800 SYP for buying. In Idlib, it reached 15,300 SYP for selling and 15,200 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.