Syria devalues currency
Black market still trading at substantially weaker rate
The Central Bank of Syria sharply reduced the value of the Syrian pound on January 2, weakening the official exchange rate from S£3,015 to the US dollar, to 4,522.
On the black market, the dollar currently trades for around S£6,500, Reuters reported.
The national currency previously traded at 47 to the dollar, before the 2011 pro-democracy protests against the government and the start of the ongoing civil war. Many countries introduced sanctions against the regime.
Monday’s devaluation was
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