Syria’s Central Bank slashes SYP value against U.S. dollar
DAMASCUS, Syria (North Press) – On Wednesday and at the beginning of 2024, the Central Bank of Syria reduced the value of the Syrian pound (SYP) against the U.S. dollar.
During 2023, the value of the Syrian pound collapsed multiple times, deteriorating from around 7,000 SYP per $1 at the beginning of 2023 to over 16,000 SYP per $1.
The Central Bank priced the U.S. dollar at 13,000 SYP in its Jan. 3 bulletin, compared to 12,700 SYP in on Tuesday bulletin.