Syrian Currency Crashes To Historic Low
QAMISHLI, Syria (North Press) – On Saturday, Syrian pound crashed to a historic low, recording more than 6.000 SYP against the US dollar.
On Dec. 8, the Syrian pound reached 6.000 against the US dollar in an increase by about 100 SYP compared to the exchange rate of Dec. 1, according to Qamishli market, northeastern Syria.
While the exchange rate in Damascus increased and reached 5.970 SYP per $1, according to the Lira website.
Owners of exchange shops in Qamishli believe that the exchange rate is likely to exceed 6.000 SYP.
In addition, gold price hit a new record, and each gram of 21-carat gold amounted to 308.000 SYP in Qamishli, affected by the Syrian pound devaluation, according to Fakhry Farho, head of the Goldsmiths Union in Qamishli.
In Damascus, a gram of 21-carat gold reached to 304.000 SYP, according to the Lira website