Currency plunge | Syrian pound plummets after Makhlouf’s new video
The Syrian pound continues its unprecedented historical collapse against the foreign currency, amid the Syrian authorities’ full inability to control this rapid collapse.
After Rami Makhlouf had appeared in new video footage today, the Syrian pound against the US dollar set a new record by 1,700 SYL in black market and areas beyond the control of the Syrian regime. Meanwhile, the Syrian pound against the Euro recorded 1,818 SYL. Also the exchange rate of the Syrian pound against the Turkish Lira reached 244 SYL, and 447 SYL against the Saudi Riyal.
According to SOHR sources, many owners of currency exchange shops in regime-held areas have completely suspended the selling of U.S. dollar or exchange foreign currency in the wake of the Syrian economy’s ongoing collapse.
On the other hand, the prices of staples and essential products rose throughout Syria to a level unaffordable by the many, affected by the currency’s plunge, which ignited widespread popular resentment, especially since “Caesar Act” is expected to be applied soon.