The exchange rate of the Syrian pound against the dollar fell today, Sunday, in the parallel market after successive rises in the past two weeks, with President Ahmed Al -Shara’s visit to Saudi Arabia and Turkey and his meeting with the Saudi Crown Prince Mohammed bin Salman and President Recep Tayyip Erdogan.
The exchange rate of the Syrian pound against the dollar today, Sunday, in the parallel market
- The exchange rate of the Syrian pound in Damascus and Aleppo fell against the dollar at 10 thousand and 400 pounds when purchasing from 10 thousand registered yesterday evening, and to 10 thousand and 700 pounds upon sale from 10 thousand and 500 pounds yesterday evening.
- In Idlib, the exchange rate of the Syrian pound against the dollar decreased to 10 thousand and 500 pounds when purchasing from 9800 pounds registered yesterday evening, and to 10 thousand and 700 when selling from the equivalent of 10 thousand registered yesterday evening.
- In Hasaka, the exchange rate of the Syrian pound against the dollar decreased to 10 thousand and 300 pounds from 9800 pounds registered yesterday evening when purchasing, and to 10 thousand and 500 upon sale from 10 thousand registered yesterday evening.
The exchange rate of the Syrian lira at the Central Bank of Syria
The Central Bank of Syria remained the exchange rate of the Syrian pound at 13 thousand pounds for purchase and 13 thousand and 130 pounds upon sale, according to the official bulletin issued today, Sunday.
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Factors influencing the exchange rate of the Syrian lira
Experts believe that the exchange rate of the Syrian pound is affected by the following factors at this stage:
- The supply of the Syrian pound declined with an increase in demand.
- Restricting cash withdrawal from banks.
- Increasing the cost of obtaining liquidity in the Syrian pound.
- The increased activity of trade movement, which contributes to increasing demand for the Syrian pound, and thus its value over the past period, compared to the time of the fall of Bashar al -Assad.
- The decisions of the new Syrian administration to dissolve the army of the former regime and its security apparatus, and isolate a large number of fictitious employees from state institutions, contributed to the lack of the offer of the lira in the market, as a result of their demobilization.
- Syrian President Ahmed Al -Sharaa’s ability to make official external visits to countries open the way for economic gains, and he recently visited Saudi Arabia and Turkey, and also received invitations to visit from many countries, including European countries.
- The United States and the European Union countries have reduced their 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.
