Syria’s Central Bank raises exchange rate to 7.200 SYP to USD

DAMASCUS, Syria (North Press) – On Thursday, Syria’s Central Bank raised the US dollar exchange rate against the Syrian pound from 7.100 to 7.200 SYP, edging close to the black market rate, which is 7.500 SYP.

The Central Bank raised the exchange rate of the US dollar in the March 9 bulletin to the highest number in its history, in an attempt to control the currency exchange operations in the black market.

The bank also raised the euro exchange rate and set it at 7.928 SYP.

In Hasakah Governorate, the exchange rate witnessed a notable spike; the exchange rate of one US dollar reached 7,500 SYP. As for the euro, it went up to 7,900 SYP.

An owner of a currency exchange shop in the city of Qamishli, northeast Syria, told North Press that “the currency exchange market is witnessing a state of instability.”

Reporting by Fadel Muhammad