Syria’s Central Bank sets 13,500 SYP against each U.S. dollar
DAMSCUS, Syria (North Press) – The Central Bank of Syria announced on Thursday the exchange rate of the U.S. dollar against the Syrian pound at 13,500 SYP, marking a new official collapse in the value of the local currency.
On Wednesday, the exchange rate was 13,200 SYP according to the bulletin, while the exchange rate on the black market is around 15,000 SYP in all Syrian regions.
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 exchange rate for the Euro has been set at 14,625 SYP, compared to 14,289 SYP before the date of Feb. 28.