The exchange rate of the Syrian pound fell against the dollar today economy

The exchange rate of the Syrian pound against the dollar decreased today, Wednesday, in the market transactions parallel to the Syrian cities, while the Central Bank of Syria has established the exchange rate in official transactions.

The exchange rate of the Syrian lira against the dollar in the parallel market transactions

• The lira fell in Damascus, Aleppo and Idlib to 10 thousand and 350 pounds against the dollar when buying, and 10 thousand and 500 pounds from 10 thousand and 400 pounds upon sale.
• In Hasaka, the lira decreased to 10 thousand and 700 pounds when purchasing from 10 thousand and 450 pounds registered yesterday evening, while it declined to 10 thousand and 900 pounds from 10 thousand and 650 pounds upon sale.

The exchange rate of the Syrian pound against the dollar in official transactions

The Central Bank of Syria has established the exchange rate of the Syrian pound at 13 thousand and 200 pounds when purchasing and 13 thousand and 332 pounds upon sale, according to its publication issued today.

https://www.youtube.com/watch?v=lyvogvzncee

Factors influencing the exchange rate of the Syrian lira

First: Local factors

• Syria suffers from scarcity of liquidity in the local currency as a result of the decline in the number of employees in the country after the demobilization of a large number of fictitious employees, in addition to the solution of the previous regime’s army and its police. In previous years, the largest exchange went to the security and army branches, and it is the one who obtained the major share of the money that moves the markets.
• The supply decreased from the lira against the requirements of the markets, which was reinforced by the increase in commercial activity.

Second: International factors

• The European Union has suspended a package of sanctions imposed on Syria, some of which are related to energy, banks, transportation and reconstruction.
• The United States temporarily lifted its sanctions on Syria, which opened the way for dealings with government institutions and energy transactions, and allowed the transfer of personal funds to the country, including through the Central Bank of Syria.
• The Office for the Implementation of Financial Sanctions (OFSI) issued a license to facilitate humanitarian activities in Syria, and to secure the access of aid to the most destructive segments despite the economic sanctions imposed on the country.