The exchange rate of the Syrian pound against the US dollar increased in parallel market transactions on Thursday in Syrian cities, while it declined in Hasakah amid escalating confrontations between the Syrian Democratic Forces.
Syrian Pound Exchange Rate in the Parallel Market
- The exchange rate of the old Syrian pound increased across most areas to a range of 12,220 pounds for buying and 12,230 pounds for selling, meaning the dollar declined by 150 pounds in today’s transactions.
- In Hasakah, where clashes are taking place between the Syrian Democratic Forces and the Syrian army, the dollar’s exchange rate increased by 100 pounds to 12,550 pounds for buying and 12,650 pounds for selling.
Syrian Pound Exchange Rate in Banks
The Central Bank of Syria continued to fix the exchange rate of the old Syrian pound against the dollar at 11,000 pounds for buying and 11,110 pounds for selling.
The Central Bank of Syria indicated that when calculated in the new Syrian pound, the purchase rate is 110 pounds per one dollar for buying and 111 pounds for selling.
Gold Prices in Syrian Markets
Gold prices in the Syrian market decreased on Thursday by 100 pounds per gram of 21-karat gold, compared to the price recorded yesterday, Wednesday, which was 15,600 pounds according to the new Syrian currency.
The Goldsmiths Association specified in its bulletin issued today, Thursday:
- The price of a gram of 21-karat gold at 15,500 pounds for selling and 15,150 pounds for buying.
- The price of a gram of 18-karat gold at 13,300 pounds for selling and 13,000 pounds for buying.
The association stressed the necessity of adhering to the price list and displaying it clearly at the front of the shop.
Currency Replacement
Banking institutions continue to replace the new Syrian pound with the old one. The Governor of the Central Bank of Syria confirmed that all banks, including the central bank, continue working on this matter throughout the week, including Saturdays, during the 90-day period allocated for replacement according to the executive instructions issued in this regard.
He reassured citizens in a post on his page that the bank accepts the old pound in all its branches without exception, in order to facilitate procedures and serve everyone.
Syrian pound
The Syrian pound is the official currency of Syria, introduced in 1919 during the French Mandate period to replace the Ottoman lira. Its history has been marked by significant devaluation and instability, particularly following the onset of the Syrian Civil War in 2011.
Damascus
Damascus is the capital of Syria and one of the oldest continuously inhabited cities in the world, with evidence of settlement dating back to the 3rd millennium BCE. It served as a major cultural and commercial center, notably as the capital of the Umayyad Caliphate in the 7th and 8th centuries, and is home to significant historical sites like the Umayyad Mosque.
Syria
Syria is a country in the Middle East with a rich history as a cradle of civilization, home to ancient cities like Damascus, one of the world’s oldest continuously inhabited cities. Its historical landscape includes significant archaeological sites from various empires, such as the ruins of Palmyra and the Crusader castle Krak des Chevaliers.
US dollar
The US dollar is the official currency of the United States, established by the Coinage Act of 1792. It evolved from a system based on Spanish milled dollars and has become the world’s primary reserve currency since the Bretton Woods Agreement in 1944.
Hasakah
Hasakah is a city in northeastern Syria, historically part of ancient Mesopotamia and home to numerous archaeological sites. It gained modern prominence in the 20th century as an administrative center and has become known for its diverse ethnic and religious communities, including Assyrians, Arabs, Kurds, and Armenians.
Syrian Democratic Forces
The Syrian Democratic Forces (SDF) is a multi-ethnic military alliance established in 2015 during the Syrian Civil War, primarily composed of Kurdish, Arab, and Assyrian militias. It was formed with U.S. support and played a leading role in the territorial defeat of the Islamic State in Syria, most notably in the Battle of Raqqa in 2017.
Central Bank of Syria
The Central Bank of Syria, established in 1953, is the country’s primary monetary authority responsible for issuing currency and managing monetary policy. Its history has been heavily shaped by decades of political instability and conflict, particularly since 2011, leading to severe inflation and a dramatic devaluation of the Syrian pound.
Goldsmiths Association
The Goldsmiths Association is a historic trade guild in the United Kingdom, traditionally responsible for overseeing the craft of goldsmithing and hallmarking precious metals. Its origins trace back to the 14th century, and it continues to maintain standards and assay offices for silver and gold items today.
