Economy | Syrian pound hits new record low as exchange rate reaches 3750 against dollar, and gold rises to 187 thousand per gram, while residents are helpless
The Syrian pound’s value hit today a new record low against foreign currencies. In Damascus, the selling rate is 3,770 SYP and the buying rate is 3,725 SYP against the dollar, while 4,542 SYP for selling and 4,482 SYP for buying against the euro. In Idlib and Aleppo countryside, however, the selling rate is 516 SYP and the buying rate is 509 SYP against Turkish lira. On the other hand, the price of one gram of 21 carat gold has reached 187,000 SYP per gram in Damascus.
On February 26, SOHR sources reported that the markets in Damascus are in recession due to the ongoing currency plunge and astronomically inflated prices. While the residents are not able to buy their essentials.