The exchange rate of the Syrian pound against the US dollar declined on Monday in black market dealings in Syrian cities, while the Central Bank of Syria continued to fix the rate in banks.
Syrian Pound Exchange Rate Against the Dollar on the Black Market
The exchange rate of the Syrian pound against the dollar in Damascus, Aleppo, and areas under Syrian government control fell by 250 pounds, reaching 11,400 pounds per dollar for buying and 11,500 pounds for selling.
In Al-Hasakah, which remains under control of the Syrian Democratic Forces, the pound’s exchange rate fell by 200 pounds against the dollar, recording 11,600 pounds for buying and 11,700 pounds for selling.
Syrian Pound Exchange Rate Against the Dollar in Banks
- The Central Bank of Syria continued to fix the exchange rate at 11,000 pounds for buying and 11,110 pounds for selling.
- When calculating the exchange rate in the new currency (which removed two zeros from the old currency), the rate is 110 pounds for buying and 111 pounds for selling.
Gold Prices in the Syrian Market
Gold prices in the Syrian market decreased on Monday by 150 pounds per gram of 21-karat gold, compared to the price recorded last Sunday, which was 15,000 pounds according to the new Syrian currency.
The Goldsmiths Association specified the following prices in its bulletin today:
- Price of 21-karat gold per gram: 14,850 pounds for selling, 14,500 pounds for buying.
- Price of 18-karat gold per gram: 12,850 pounds for selling, 12,500 pounds for buying.
The Central Bank in Raqqa
Amid the expansion of the Syrian army’s control in the Raqqa and Deir ez-Zor governorates, the Governor of the Central Bank of Syria confirmed the start of arrangements to open a bank branch in Raqqa. This important step paves the way for the return of economic and institutional life to the city and enhances monetary and financial stability there.
He explained in a post on his Facebook page on Monday that the opening will coincide with the start of the currency exchange process in Raqqa. This will ensure facilitating financial transactions for citizens, regulating cash circulation, and supporting commercial and economic activity in the city.
He indicated that work will be done to encourage operating banks to reopen their branches in the city. This represents a qualitative shift in banking services, allowing citizens and business owners access to deposit, withdrawal, transfer, and financing services, and contributes to revitalizing economic activity and encouraging investment.
The Bank Governor confirmed that these steps represent a message of confidence in Raqqa’s future and the state’s commitment to rebuilding the financial infrastructure and providing a secure economic environment that serves the city’s residents and contributes to improving their living conditions.
Syria
Syria is a country in the Middle East with a profound historical legacy, often called the “cradle of civilization” for its ancient cities like Damascus and Aleppo. It has been home to successive empires, including the Phoenicians, Romans, and Ottomans, leaving behind rich archaeological sites such as Palmyra and the Krak des Chevaliers. In recent history, the country has been significantly impacted by a complex and ongoing civil war that began in 2011.
Damascus
Damascus is the capital of Syria and one of the oldest continuously inhabited cities in the world, with a history spanning over 11,000 years. It has been a major cultural and commercial center, ruled by various empires including the Aramaeans, Romans, and Umayyads, who established it as the capital of their caliphate in the 7th century. The city’s historic center, a UNESCO World Heritage Site, is renowned for landmarks like the Umayyad Mosque and the ancient Al-Hamidiyah Souq.
Aleppo
Aleppo is one of the world’s oldest continuously inhabited cities, located in modern-day Syria, with a history dating back over 8,000 years. It flourished for centuries as a key trading hub along the Silk Road, renowned for its iconic medieval citadel and labyrinthine covered souk. The city’s rich architectural heritage suffered extensive damage during the Syrian civil war that began in 2011.
Al-Hasakah
Al-Hasakah is a city in northeastern Syria, historically significant as part of ancient Mesopotamian civilizations and later a region of Assyrian and Arab influence. In modern times, it developed around a French military post established in the 1920s and has become a major administrative center, known for its diverse ethnic composition of Arabs, Kurds, Assyrians, and Armenians.
Raqqa
Raqqa is a city in northern Syria historically known as the site of the Abbasid Caliph Harun al-Rashid’s 8th-century capital, Ar-Raqqah. In the 21st century, it gained international notoriety as the declared capital of the Islamic State (ISIS) from 2014 until its liberation in 2017.
Deir ez-Zor
Deir ez-Zor is a major city in eastern Syria, historically significant as a long-standing settlement and trading center along the Euphrates River. It gained tragic prominence in the early 20th century as a site of atrocities during the Armenian Genocide, a history commemorated at the city’s now-destroyed Armenian Genocide Memorial Church.
Central Bank of Syria
The Central Bank of Syria is the country’s primary monetary authority, established in 1953 and headquartered in Damascus. It is responsible for issuing the Syrian pound and managing the nation’s monetary policy, but its operations have been severely impacted by international sanctions and the ongoing Syrian civil war.
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.
Syrian army
The Syrian Arab Army is the land force branch of the Syrian Armed Forces, established in 1946 following Syria’s independence from France. It has been a central institution in the modern state, playing a defining role in the country’s domestic politics and conflicts, including the ongoing Syrian Civil War that began in 2011.
Goldsmiths Association
The Goldsmiths Association refers to a historic guild of goldsmiths, most notably the Worshipful Company of Goldsmiths in London, which received its first royal charter in 1327. This livery company was responsible for assaying and hallmarking precious metals, a practice it continues to oversee today at London’s Goldsmiths’ Hall.
Facebook
Facebook is a social media platform founded in 2004 by Mark Zuckerberg and his Harvard University roommates. It began as a network for college students before expanding globally, fundamentally changing online communication and becoming one of the world’s largest technology companies.
