The lira continues to collapse and madly rise Al Anbaa Newspaper


Some call it “dollar frenzy” and others call it “free fall” of the pound. These phrases and others are attempts to describe the unprecedented collapse of the pound in the Syrian pound until a week before the new American “Caesar” law starts to apply sanctions on the Damascus government and everyone who deals with it.

The exchange rate of the lira jumped yesterday morning to more than 3 thousand pounds against one dollar in Damascus, with an increase of one thousand pounds at one time from its price, which closed at two thousand against the dollar last Thursday.

According to the site, “the lira today,” which specializes in exchange rates and the prices of precious metals, the exchange rate of the lira reached above 3200 pounds for sale and 3100 for purchase in Damascus and Aleppo, an increase of more than 8% from the previous day. To lose more than 50% of its value since the beginning of this June.

The situation was not the best in Idlib, which is outside the control of Damascus. Rather, the lira recorded more losses when it recorded the selling price of the dollar at more than 3,600 liras there.

The continuous depreciation of the lira was accompanied by a crazy rise in prices, which led to the closure of many shops in Damascus and Aleppo, and it stopped selling because citizens were unable to pay, until the exchange rate stabilized and fearing the continuation of the decline.

The prices of foodstuffs increased, in a way that many people are no longer able to obtain the basic requirements, as the price of a kilo of sugar in some areas reached 1500 pounds and rice reached two thousand pounds, and the price of the gas jar increased to 19 thousand pounds. The bundle of bread was sold for 600 liras.

This prompted many demonstrations to take place in several areas. Activists and news websites circulated videos of demonstrations in Idlib. And another came out for the second day in a row in the city of As-Suwayda where the demonstrators demanded the fall of the regime and the removal of Iran and Russia from Syria.

The Syrian Observatory for Human Rights said that the anti-Syrian protests were renewed in the city of As-Suwayda also yesterday, where dozens of people from Jabal Al-Arab demonstrated in a demonstration in front of the Suwayda governorate building and then went to the city market, and the demonstrators renewed their demands to bring down the regime and improve the living situation.

On the other hand, the Ministry of Trade in the government vowed to hold the store owners to account, while the People’s Assembly witnessed a stormy session with the government yesterday. Jamal Al-Din Shuaib, assistant to the Minister of Internal Trade and Consumer Protection, said that “no activity will be tolerated, closed by its owner for any reason, and the penalty will be to refer the violator to the judiciary.”

Shuaib asked citizens to cooperate in revealing various types of violations, whether prices, specifications, or unjustified closures by submitting complaints through the assigned numbers.

This comes in light of the silence of the Central Bank of Syria and its governor, Hazem Karfoul, which angered MPs in the parliament session yesterday.

And considered the member of the People’s Assembly, Fadia Deeb, that “there is a terrible silence from the governor of the central bank and the government, about the exchange rates of the lira and the deterioration of the currency, and there are many letters under closure.”

In response to the deputies, Khamis asked, “If the ruler appears about what he will talk,” speaking about the existence of “economic plans that cannot be shown to the media, such as military plans.”

Khamis attributed the deterioration to the Corona virus and the plot that America and Europe are waging against the country.

In addition to the Caesar law, the Syrian pound was affected by a number of factors that led to its deterioration, most notably the continuing tense political situation, and the escalating crisis in the ruling class, especially between businessman Rami Makhlouf, the owner of the Syriatel cell phone company, the government and its latest chapters appointing a judicial guard to the company.

In addition to tightening European and American sanctions. The currency was also affected by the economic crisis that hit Lebanon, which was the country’s economic outlet and source of dollars.


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