Syria’s Central Bank sets USD exchange rate at 3.015 SYP in second raise
DAMASCUS, Syria (North Press) – On Monday, the Central Bank of Syria raised the US dollar exchange rate against the Syrian pound in its official bulletin from 2.814 SYP to 3.015 by nearly 200 SYP.
This is the second raise in the current year, after the raise in mid-March, recording 2.814 SYP for each US dollar.
Social media users commented on the new raise, saying that the raise is applied to the dollar not to the Syrian pound, since the exchange rate of the USD against the SYP on the black market has exceeded 4.500 SYP.
The Central Bank usually modifies its official bulletin, but the gap between the price of the bank and that of the black market remains big by about 1.400 SYP.
As a result, people do not head to the government official bodies for their banking transactions.
Syria’s economy, which has been crushed by war, is increasingly dollarized as people depend on dollar to protect themselves against currency inflation.
On Monday, one USD reached 4.650 SYP on the black market, according to special currency exchange websites.