Urgent| A sharp decline in the price of the Syrian pound against the dollar and all currencies after the fall of the Assad regime

Today, Monday, December 9, 2024, the price of The Syrian pound is significantly ahead of the pound, following the collapse of the Syrian regime after the armed opposition factions were able to control the capital, Damascus, and the price of the Syrian currency collapsed. 

And progress “Rosa Al-Yousef Gate” For its readers everything related to the price of the Syrian pound after the fall of Bashar al-Assad’s regime, as part of an ongoing service it provides to its visitors in various fields.

The deterioration of the Syrian pound after the collapse of the ruling regime

On Sunday, December 8, 2024, Syria witnessed serious developments as armed opposition forces entered the capital, Damascus, in the early hours of dawn. This attack led to the collapse of the regime of President Bashar al-Assad, which had a major impact on the Syrian economy, as the Syrian currency – the Syrian pound – lost about 42% of its value against foreign currencies in a matter of hours, which exacerbated the economic conditions that were already experiencing difficulties. Severe due to years of armed conflict.

Exchange rates of the Egyptian pound against the Syrian pound in various Regions

1. The price of the Egyptian pound in Damascus: The price of the Egyptian pound in Damascus reached about 316 liras for purchase and 338 liras for sale.

2. The price of the Egyptian pound in Aleppo:  The Egyptian pound recorded a price of 336 liras for purchase and 358 liras for sale.

3. The price of the Egyptian pound in Al-Hasakah: The Egyptian pound recorded the lowest exchange rate at 235 pounds for purchase and 257 pounds for sale.

The Syrian pound against the US dollar

The Syrian pound continued to lose its value against the US dollar, as the exchange rate today, December 9, 2024, reached 16 thousand pounds for purchase and 17 thousand pounds For sale, after prices yesterday were 22 thousand pounds to buy and 27 thousand pounds to sell. 

The Syrian pound against the euro

The Syrian pound against the Turkish lira.

With regard to the Turkish lira, the lira has declined Noticeably Syrian as well. It recorded 458 liras for purchase and 488 liras for sale, after prices yesterday were 632 liras for purchase and 778 liras for sale.

The World Bank report indicates that the economic contraction in Syria will continue during 2024, as the gross domestic product is expected to decline By 1.5%. Inflation continues to rise due to the deterioration of the value of the Syrian currency, the decline in humanitarian aid, in addition to escalating geopolitical tensions. The country is expected to witness a further deterioration in living standards, with about 69% of the population remaining below the poverty line in 2022.

The Syrian pound against the Saudi riyal and the Emirati dirham

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The Syrian pound also declined against the Saudi riyal and the Emirati dirham, as the Syrian pound recorded 4,270 pounds for purchase. And 4,540 liras for sale against the Saudi riyal, 4,355 liras for purchase, and 4,631 liras for sale against the Emirati dirham. Yesterday, prices recorded 5,867 liras to buy and 7,204 liras to sell for the Saudi riyal, and 5,992 liras to buy and 7,357 liras to sell for the Emirati dirham.

 

Poverty rates And inflation in Syria

Poverty rates in Syria are considered one of the most pressing issues after years of conflict Bloody. According to the World Bank, about 69% of Syrians were living below the poverty line in 2022, with a significant increase in extreme poverty rates as a result of the ongoing crises. The economic situation also worsened due to the repercussions of the earthquake that struck the country in February 2023, making Syrians face greater economic challenges in providing their basic needs.