Currency plunge | Syrian pound tumbles, amid concerns over “Caesar Act” impact
The Syrian pound has nose-dived to its lowest level ever against the foreign currency, approaching 2,000 SYL against the US dollar. The Syrian pound against the US dollar recorded 1,940 SYL in areas beyond the control of the Syrian regime in Aleppo and Idlib. Meanwhile, the Syrian pound against the Euro recorded 2,047 SYL, and the exchange rate of the Syrian pound against the Turkish Lira reached 279 SYL.
While in regime-held areas, the Syrian pound against the US dollar recorded 1,860 SYL, while the Syrian pound against the Euro recorded 2,045 SYL. Also the exchange rate of the Syrian pound against the Turkish Lira reached 274 SYL.
This new currency plunge comes a few days before “Caesar Act”, legalized by U.S.A., comes into effect in June. Meanwhile, the markets throughout Syria experience astronomically inflated prices of staples and essential products which deepens the suffering of the Syrian civilian who became unable to secure his daily basic necessities in the wake of low-income.