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Syria weakens official exchange rate

Tuesday, January 3, 2023
Syria weakens official exchange rate © Reuters. FILE PHOTO: Stacks of Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi

DAMASCUS (Reuters) - Syria weakened its official exchange rate to 4,522 Syrian pounds to the dollar, a central bank statement said on Monday, while black market rates used for most economic activity sat around 6,500.

The official rate was previously set at 3,015.

An economic crisis in the country has been triggered by years of conflict, Western sanctions, a currency squeeze in part due to a financial meltdown in neighbouring Lebanon and the government's loss of its northeastern oil-producing territories.

The resulting collapse of the pound has driven up the price of goods and aggravated hardship as Syrians struggle to buy food, electricity and other basic items.

Fuel has become particularly scarce, forcing the government to further ration electricity and even shut down public buildings during weekdays.

The pound had traded at 47 to the dollar before protests against President Bashar al-Assad erupted in March 2011.

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27-02-2024 16:30:45 (UTC+7)

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1.0854

+0.0006 (+0.06%)

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 GBP/USD1.2683↑ Sell
 USD/JPY150.23↑ Buy
 AUD/USD0.6556↑ Buy
 USD/CAD1.3494↑ Sell
 EUR/JPY163.06Neutral
 EUR/CHF0.9545Neutral
 Gold2,045.95↑ Sell
 Silver22.892↑ Buy
 Copper3.8623↑ Buy
 Crude Oil WTI77.59↑ Buy
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 Natural Gas1.753Neutral
 US Coffee C180.35↑ Buy
 Euro Stoxx 504,877.25↑ Buy
 S&P 5005,069.53↑ Sell
 DAX17,497.95↑ Buy
 FTSE 1007,687.00↑ Buy
 Hang Seng16,790.80Neutral
 Small Cap 20002,028.97↑ Sell
 IBEX 3510,099.50Neutral
 BASF46.755Neutral
 Bayer28.80Neutral
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 Adidas188.39Sell
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 Siemens AG176.12↑ Buy
 Deutsche Bank AG12.255↑ Buy
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Cập nhật 27-02-2024 16:30:47
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RON 95-V24.10024.580
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E5 RON 92-II22.47022.910
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Ngoại tệMua vàoBán ra
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GBP30.442,0231.737,55
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KRW16,0119,40
Cập nhật lúc 16:30:04 27/02/2024
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