Economic | Syrian pound hits new record low against foreign currencies, and gold prices increase

On Nov 17, 2020

The Syrian pound’s value hit a new record low against foreign currencies as follows:

2,740 SYP for buying and 2,770 SYP for selling against the dollar.
3,246 SYP for buying and 3,287 SYP for selling against the euro.
354 SYP for buying and 360 SYP for selling against Turkish lira.

On the other hand, the price of one gram of 21 carat gold has reached 140,000 SYP per gram, while the price of one gram of 18 carat gold recorded 120,000 SYP.

On November 12, SOHR sources said that the severe crisis continued in the regime-controlled areas, as people have difficulty getting bread, due to the inability of the regime authorities to secure the needs of the bakeries for subsidized flour, in addition to a new record low hit the Syrian pound today, with gold prices rise.

SOHR sources said that a big fight took place in front of a bakery in the city of Souran, which is under the control of the regime, north of Hama, due to the severe overcrowding outside the bakeries. The fight left many people injured.

In the same context, massive queues were seen in front of the bakeries in Latakia province due to the lack of wheat provided to them.

According to Syrian Observatory sources, the Dumsarkho bakery, one of the largest bakeries in the city of Latakia, is now only for regime soldiers, while the Syrian provinces in general in the regime-held areas are experiencing an ongoing bread crisis.

Meanwhile, the Syrian pound’s value hit a new record low against foreign currencies as follows:

2,582 SYP for buying and 2,612 SYP for selling against the dollar.
3,044 SYP for buying and 3,085 SYP for selling against the euro.

While the price of one gram of 21 carat gold has reached 137,000 SYP per gram, while the price of one gram of 18 carat gold recorded 117,429 SYP.

Yesterday, SOHR activists said that the famous “Ibn al-Amid” bakeries in the area of ” Rukin Al-Din” in the capital Damascus, were closed due to the lack of flour provided to them, coinciding with a severe bread crisis and long queues outside bakeries in areas under the control of the Syrian regime due to the lack of flour.

The five “Ibn Al-Amid” bakeries, which are adjacent to each other in “Rukin Al-Din” neighbourhood adjacent to Qassioun Mount in Damascus, are among the most well-known bakeries that the residents of the capital and its countryside flock to buy their bread.