Syria’s currency value still falling
QAMISHLI, Syria (North Press) – The Syrian pound (SYP) continues devaluating against the US dollar on Sunday across Syria. As the exchange rates exceeded 13,000 SYP, marking an increase compared to the previous day.
In Damascus, the dollar exchange rate stood at 13,200 SYP for selling and 13,000 SYP for buying.
The exchange rate in Idlib Governorate, northwest Syria, was 13,000 for selling and 12,900 for buying, while in Aleppo it reached 13,200 for buying and 13,400 SYP for selling, according to Syrian Pound Today website.
In Qamishli, northeast Syria, the exchange rate is 13,000 SYP for selling and 12,800 for buying, exchange dealers told North Press.
The exchange rate in Raqqa and Hasakah has reached 12,900 SYP for buying and 13,000 SYP for selling.
Meanwhile, the Central Bank of Syria, in Damascus, kept the exchange rate of the US dollar against the Syrian pound steady at 9,900 SYP.
Syria has been experiencing a severe economic crisis for several years, with one of the main drivers being high inflation rates. 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.