Syrian Pounds sinks to record low, trading with U.S. Dollar 2,000 to 1

DARAMSUQ (DAMASCUS) – The collapse of Syrian Pound (SYP) continues with the currency now exchanging at a rate of 2,000 SYP to 1 USD.

In Daramsuq (Damascus), the going rate was 2020 SYP to 1 USD. In Aleppo and Zalin (Qamishli), the rate was 2000:1 and 1950:1 respectively.

The magnitude of the depreciation of the Syrian Pound is unprecedented in the country’s modern history, the currency weaker than at any point during the nearly decade long civil war.

The relative strengthening of the U.S. Dollar has had serious consequences for the daily lives of Syrian citizens, increasing the price of food and daily essentials and especially medicine.

Some medicine prices have tripled in the country threatening to worsen an already dire healthcare situation. Medicine shortages, already prevalent, are reportedly getting worse.