Syria’s Currency Stabilizes as the US Dollar Holds Steady in Black Market Trading
The Syrian economy witnessed a rare moment of stability as the price of the US dollar in Syria remained steady on Saturday, January 25, 2025. This development comes after the Syrian Central Bank took decisive steps to stabilize the exchange rate, aiming to curb fluctuations in the black market. The government’s efforts to bolster the value of the Syrian pound appear to be yielding results, at least temporarily.
The Price of the Dollar in Syria on January 25, 2025
At the start of trading on Saturday, the US dollar recorded stability in the Syrian Central Bank. The buying price of the dollar stood at approximately 13,000 Syrian pounds, while the selling price reached 13,130 Syrian pounds. The bank’s decision to fix the exchange rate was a strategic move to control prices in the parallel market, which has long been a source of economic instability.
Dollar Exchange Rates Across Syrian Cities
The US dollar exchange rate also showed remarkable consistency across several Syrian cities.This stability is attributed to reduced demand for the dollar and other key factors. here’s a breakdown of the rates in major cities:
| City | Buying Price (SYP) | Selling Price (SYP) |
|————–|————————|————————-|
| Damascus | 11,650 | 11,750 |
| Aleppo | 11,650 | 11,750 |
| Idlib | 11,700 | 11,800 |
| Al-Hasaka | 11,600 | 11,700 |
The uniformity in rates across these cities underscores the central bank’s efforts to maintain economic equilibrium.
Stabilization of Arab and Foreign Exchange Rates
Beyond the US dollar, other currencies also experienced stability in Syria on Saturday. The euro exchange rate for purchase was recorded at 12,110 Syrian pounds, with the selling price at 12,219 Syrian pounds. Similarly, the Omani riyal exchange rate against the Syrian pound stood at 30,321 for purchase and 30,601 for sale.
This stabilization is a meaningful development for a country that has faced severe economic challenges, including a shortage of foreign currency reserves. The Syrian government’s measures to control the black market and stabilize the exchange rate are critical steps toward economic recovery.
looking Ahead
While the stabilization of the Syrian pound and foreign exchange rates is a positive sign, the road to economic recovery remains fraught with challenges. The government’s ability to sustain these efforts will be crucial in determining the long-term stability of the syrian economy.
For now, the steady exchange rates offer a glimmer of hope for Syrians grappling with the economic fallout of years of conflict. As the central bank continues its efforts to control the black market, the focus will remain on maintaining this fragile stability.
Stay tuned for further updates on Syria’s economic developments and the impact of these measures on the daily lives of its citizens.