New record collapse of the Syrian pound

Today, on Saturday, the Syrian pound recorded a new record collapse on the black market, having stepped over the threshold of 6 thousand against the dollar, according to electronic applications that monitor the movement of the currency.

Unofficial electronic apps tracking the black market showed an exchange rate of £6,010 to one dollar as merchants rely on the app-tracked parallel market price to price their products while the official exchange rate is set by the Central Bank. equivalent to £3,015 against the dollar.

After years of war, Syria is facing a suffocating economic crisis, accompanied by rising prices for basic materials, power outages and fuel shortages.

Source: AFP