Today, Wednesday, the Syrian currency recorded a new decline, until it reached its lowest level in the parallel market.
Yesterday, Tuesday, the Central Bank reduced the official rate for withdrawing cash transfers in foreign currency to 9,900 pounds per dollar.
This represents a major collapse compared to the beginning of the year, when the price in the parallel market was hovering around 6,500 and the transfer withdrawal price was 4,522 pounds to the dollar.
The pound traded at 47 against one dollar before the outbreak of protests against President Bashar al-Assad in March 2011.
Since then, the economy has collapsed under the weight of the bloody conflict, Western sanctions and currency pressures linked to the financial collapse in neighboring Lebanon and the government’s loss of its oil-producing lands in the northeast.
The resulting collapse in the value of the lira led to higher commodity prices and exacerbated difficulties at a time when Syrians were struggling to buy food and pay for electricity consumption and other basic items. agencies
2023-07-19 18:55:31
#Syrian #pound #continues #collapse.. #record #Alghad
