Central Bank of Syria sets new exchange rate for US dollar
QAMISHLI, Syria (North Press) – The Central Bank of Syria reduced on Wednesday the exchange rate of the US dollar against the Syrian pound from 10,800 to 10,700 in this morning’s bulletin of the Bank. This represents a decrease of 100 SYP.
In most areas of Syria, the Syrian pound witnessed a decline in its value in the black market, as the exchange rate against the US dollar dropped to approximately 13,500 pounds per dollar.
In the city of Qamishli, northeast Syria, the exchange rate declined to 13,800 SYP for selling and 13,600 SYP for buying, exchange dealers told North Press.
In Damascus, it amounted to 13,300 SYP for selling and 13,500 SYP for buying, and in Hasakah, it reached 13,800 SYP for selling and 13,700 SYP for buying, according to the Syrian Pound Today website.
In Aleppo, it reached 13,550 SYP for selling and 13,350 SYP for buying, and in Idlib it reached 13,700 SYP for selling and 13,600 SYP for buying.
Syria has been experiencing a severe economic crisis for several years. 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.