Syrian pound records sharp fall against foreign currencies
QAMISHLI, Syria (North Press) – On Saturday, Syrian pound recorded a new record fall against foreign currencies, exceeding 6.300 SYP for each USD according to black market trading.
According to exchange traders in the city of Qamishli, northeast Syria, the USD is sold at 6.320 SYP and bought at 6.280 SYP.
On Thursday, the exchange rate was fixed at 6.290 SYP selling and 6.220 buying a USD.
Followers suggest that devaluation of the Syrian pound continues in light of the Central Bank’s in ability to pump currency in the market.
In Damascus, the USD has recorded 6.070 for selling and 6.000 for buying, according to Lira website for currencies.
Meanwhile, Euro price on the black market reached 6.660 SYP for selling and 6.620 SYP for buying.
As for gold, each gram of 21-carat gold is sold at 323.000 SYP.
The Syrian pound continue to rapidly fall as over 90% of Syrians are below poverty line due to the non-stoppable Syrian war with no looming solution.