SYP exchange rate against USD declines again to reach 1800
Damascus - SMART
On Thursday, the Syrian pound exchange rate against the United States dollar declined again to reach 1,800 SYP in most Syrian governorates.
Exclusive sources reported to SMART that the USD exchange rate in the Syrian government-controlled city of Damascus reached 1840 SYP for purchase and 1860 SYP for sale, after it was yesterday 1810 SYP for purchase and 1830 SYP for sale. The USD exchange rate in the city of Aleppo reached 1865 SYP for purchase and 1875 SYP for sale, after it was 1870 SYP for purchase and 1910 SYP for sale.
In the Idlib governorate, the USD exchange rate reached 1920 SYP for purchase and 1970 SYP for sale, after it was 1885 SYP for purchase and 1895 SYP for sale.
The USD exchange rate rose in the Kurdish Autonomous Administration-controlled areas as well. The USD exchange rate in the al-Hasakah governorate, Northeastern Syria, reached 1875 SYP for purchase and 1900 SYP for sale, after it was on Wednesday 1,800 SYP for purchase.
In the Syrian government-controlled governorate of al-Suwayda, the USD exchange rate reached 1850 SYP for purchase and 1855 SYP for sale, after it was on Wednesday 1,800 SYP for purchase and 1805 SYP for sale.
On May 27, 2020, the SYP declined again after its value slightly improved during the past days, as the USD exchange rate exceeded 1,800 SYP in most Syrian governorates.
On May 18, 2020, the SYP exchange rate against the USD reached 2,000 for the first time of the establishment of the Syrian state. On May 17, 2020, money exchange shops in Northern and Northeastern Syria stopped dealing with USD after it reached 1,700 SYP.
This rate is yet the worst in the history of Syria since its independence and the separation between the Syrian and Lebanese pounds, as in 1961, one USD made two SYP, in 2005 it made 53 SYP, in 2010 it made 49 SYP, and it began declining rapidly since 2011. In 2016, the USD reached 640 SYP and in the beginning of 2020, it exceeded 1,000 SYP.