The exchange rate of the dollar against the Syrian pound rose today, Friday, December 4, 2020, at the beginning of transactions in the informal “black” parallel market.
The exchange rate of the US currency was 2690 pounds for purchase and 2715 pounds for sale, compared to 2,675 pounds for purchase and 2695 pounds for sale at the close of trading on Thursday.
The average price of the dollar against the pound in the parallel market changes according to supply and demand, and the geographical scope of the four main governorates, “Damascus, Aleppo, Idlib, and Minij” with differences of about 100 pounds.
And in Syrian banks, the average price of the dollar settled at 1,250 pounds for purchase and about 1262 pounds for sale.
The Syrian economy is experiencing a severe financial crisis amid government decisions with a new increase in fuel prices, accompanied by pressures on the export sector abroad, and a decline in the country’s income from foreign exchange.
The United Nations Economic and Social Commission for Western Asia (ESCWA) reported that Syria incurred economic losses estimated at $ 442 billion over eight years (2011 to 2019) due to the war.
Euro and sterling
The average exchange rate of the euro against the Syrian pound in the parallel market was recorded at 3267 pounds for purchase and 3302 pounds for sale, compared to 3230 pounds for purchase and 3259 for sale at the conclusion of yesterday’s transactions.
While the sterling recorded about 3613 pounds for purchase, and 3657 pounds for sale, compared to 3555 pounds for purchase, and 3592 pounds for sale when closing transactions on Thursday.
Real, dirham and dinar
The exchange rate of the Saudi riyal against the Syrian pound recorded about 715 pounds for purchase, 725 pounds for sale, compared to 711 pounds for purchase, and 719 pounds for sale at the conclusion of Thursday’s transactions.
While the Emirati dirham recorded, during early trading on Friday morning, about 730 pounds for purchase and 739 pounds for sale, compared to 725 for purchase and 734 for sale when closing Thursday’s trading.
The Kuwaiti dinar recorded about 8,828 liras for purchase and 8,935 liras for sale, compared to 8,764 liras for purchase, and 8,655 liras for sale yesterday.