Syrian pound’s value drops again after slight stability
QAMISHLI, Syria (North Press) – The value of the Syrian pound (SYP) recorded a new decline against the US dollar on Sunday after a slight improvement in the past week across Syria.
In the city of Qamishli, northeast Syria, the exchange rate of the US dollar reached 14,300 SYP for selling and 14,100 SYP for buying, exchange dealers told North Press. In the past week, it was 13,800 SYP for selling and 13,600 SYP for buying.
In Damascus, the exchange rate reached 14,100 SYP for selling and 13,900 SYP for buying.
In Hasakah and Idlib, it reached 14,250 SYP for selling and 14,150 SYP for buying, according to the Syrian Pound Today website.
In Aleppo, the exchange rate reached 14,150 SYP for selling and 13,950 SYP for buying.
Meanwhile, the Central Bank of Syria maintained the exchange rate of one US dollar against the Syrian pound at 10,700 SYP, according to this morning’s bulletin of the Bank.
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.