The exchange rate of the Syrian pound against the US dollar improved in trading today, Tuesday, according to data from the Central Bank of Syria and market data.
Central Bank data indicate that the purchase price of the US currency declined to 14,500 liras from 14,650 recorded yesterday, while the selling price declined to 14,645 liras from 14,800 liras.
The average price of the euro fell, according to Central Bank data, from 15,358 liras yesterday to 14,725 liras during today’s trading.
Data from the Lira Today website – which tracks parallel market transactions in the two main economic centers in Syria (Damascus and Aleppo) – indicate that the purchase price in the capital reached 13,800, down from 14,750 at the end of yesterday’s trading, while the selling price reached 14,200, down from a range of 14,200 and 14,750.
The website indicated a slight decline in gold prices, as “21 karat” recorded 1,59,000 liras for purchase, compared to 1,131,000 liras yesterday.
After the fall of the Syrian regime
The value of the Syrian pound rose against the dollar by about 20% during the two days following the fall of Bashar al-Assad’s regime, with the influx of Syrians from Lebanon and Jordan and the end of strict controls on foreign currency trading.
The exchange rates reached between 10,000 and 12,500 liras against the dollar on December 14, which is a large difference between 20% and 50% compared to the price recorded by the dollar before the fall of the regime.
Traders attributed this to the return of thousands of Syrians who were displaced abroad during the 13-year war to the country and the freedom to trade the dollar and the Turkish lira in the markets.
Previously, using foreign currencies in daily transactions could land Syrians in prison, and many were afraid to even say the word “dollar” in public.
According to UN agencies, more than 90% of Syrians live below the poverty line.
