Syrian pound continues to devaluate against USD

Source: Xinhua| 2020-05-17 22:51:58|Editor: huaxia

DAMASCUS, May 17 (Xinhua) -- The Syrian pound continued its rapid devaluation against the U.S. dollar in the black market on Sunday, recording the lowest rate since more than nine years ago.

The Syrian pound is now sold in the black market at more than 1,600 Syrian pounds for one dollar, the lowest exchange rate of it since the beginning of the Syrian war.

At the beginning of 2019, one dollar was sold for around 500 Syrian pounds while it was sold for 1,000 at the beginning of 2020.

The sharp decline in the value of the Syrian pound has negatively rebounded on the prices of all commodities and food items amid public dismay. Enditem