Syrian pound declines again after two weeks of stability
DAMASCUS, Syria (North Press) – On Wednesday,the Syrian pound exchange rate witnessed a new decline after nearly two weeks of stability.
The exchange rate was recorded at 3,400 Syrian pounds (SYP) against one dollar.
At the end of March, the Syrian pound recorded a record low when one dollar was estimated at 5,000 SYP. For two weeks, the Syrian pound witnessed a relative improvement, falling to less than 3,000 SYP against one dollar.
Murshid Azam (a pseudonym), the owner of a clothing shop in Damascus, told North Press that this increase will re-disrupt commercial activity in the city.
Azam added that ”the current period that precedes the holidays and the start of summer is considered the peak of business and trade, but it threatens to come to a halt with the decline of the citizen’s purchasing power.”