News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
27
o
Bekaa
18
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
22
o
North
29
o
South
26
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Concerts
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
27
o
Bekaa
18
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
22
o
North
29
o
South
26
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
The Syrian Pound hits record low against the Dollar
Middle East News
2023-07-10 | 05:21
High views
Share
Share
3
min
The Syrian Pound hits record low against the Dollar
The Syrian pound witnessed a new record decline in the black market on Monday, touching the threshold of ten thousand against the dollar, according to electronic applications monitoring currency movement.
After years of ongoing war since 2011, Syria is facing a severe economic crisis accompanied by a significant increase in the prices of basic commodities, constant electricity outages, and fuel shortages.
Unofficial electronic applications that monitor the black market, followed by Syrians, revealed that the exchange rate reached 9,750 Syrian pounds per US dollar on Monday.
Traders rely on the unofficial market rate monitored by these applications to determine their product prices, while the official exchange rate approved by the Central Bank stands at 6,532 Syrian pounds per US dollar.
Since the start of the conflict, the exchange rate of the Syrian pound has deteriorated by 99% in the black market.
However, this recent decline coincides with the resumption of relations between most Arab countries and Damascus, which is seeking Arab involvement in the reconstruction phase, while facing suffocating economic sanctions imposed by Western countries.
Economic analyst Ammar Youssef told Agence France-Presse, "The war is not over yet, and the reasons for the depreciation of the pound have not changed, given the absence of economic alternatives to improve the currency's performance, especially with the ongoing hindrance of export operations due to sanctions."
He considered that "the impact of Arab openness to Damascus has not yet begun, especially as it has not been accompanied by tangible economic steps."
Damascus has long considered economic sanctions as a primary cause for the continuous deterioration of its economy.
Despite a decline in the intensity of the battles in the country, where the conflict has claimed the lives of nearly half a million people, displaced millions, and destroyed infrastructure, it still suffers from difficult economic and living conditions.
The majority of Syrians are currently living below the poverty line, and over 12 million people suffer from food insecurity, according to the United Nations. Additionally, 2.7 million people experience severe food insecurity, while the prices of essential commodities continue to rise throughout the country.
AFP
Middle East News
Syrian
Pound
Devalues
Record
Low
Against
Dollar
Inflation
Currency
Crisis
Next
Hamas confirms submission of official response to hostage and ceasefire proposal: Official says
Recommended For You
d-none hideMe
0
News Bulletin Reports
13:12
US repositions naval power: Aircraft carrier USS Theodore Roosevelt departs Middle East
News Bulletin Reports
13:12
US repositions naval power: Aircraft carrier USS Theodore Roosevelt departs Middle East
0
News Bulletin Reports
13:07
Israel refocuses on northern front: Intensified military drills amid growing threats from Lebanon
News Bulletin Reports
13:07
Israel refocuses on northern front: Intensified military drills amid growing threats from Lebanon
0
News Bulletin Reports
12:55
New education policy sparks controversy: Lebanon's approach to illegal Syrian students
News Bulletin Reports
12:55
New education policy sparks controversy: Lebanon's approach to illegal Syrian students
0
Middle East News
10:17
Iran says it is open to talks but rejects pressure as US, EU impose sanctions
Middle East News
10:17
Iran says it is open to talks but rejects pressure as US, EU impose sanctions
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
World News
2024-08-20
US and South Korea hold joint air drills to counter Pyongyang threat
World News
2024-08-20
US and South Korea hold joint air drills to counter Pyongyang threat
0
World News
2024-06-29
Trump faces backlash over 'Palestinian' remark during debate with Biden
World News
2024-06-29
Trump faces backlash over 'Palestinian' remark during debate with Biden
0
World News
2024-07-12
Biden insists he is staying in presidential race, mixes Harris with Trump
World News
2024-07-12
Biden insists he is staying in presidential race, mixes Harris with Trump
0
Lebanon News
09:50
MP Nadim Gemayel: The 42nd anniversary of the assassination of former President Bachir Gemayel represents actual resistance
Lebanon News
09:50
MP Nadim Gemayel: The 42nd anniversary of the assassination of former President Bachir Gemayel represents actual resistance
Videos
d-none hideMe
0
Lebanon News
2024-09-12
Fire erupts at Bourj Hammoud landfill, black smoke covers areas near Beirut (Video)
Lebanon News
2024-09-12
Fire erupts at Bourj Hammoud landfill, black smoke covers areas near Beirut (Video)
0
News Bulletin Reports
2024-08-26
LBCI Exclusive: Canada's Ambassador to Lebanon supports UNIFIL mandate renewal, aims to strengthen LAF capabilities
News Bulletin Reports
2024-08-26
LBCI Exclusive: Canada's Ambassador to Lebanon supports UNIFIL mandate renewal, aims to strengthen LAF capabilities
0
Lebanon News
2024-08-25
Hezbollah reveals footage of strikes in second phase of 'Day of Arbaeen' operation
Lebanon News
2024-08-25
Hezbollah reveals footage of strikes in second phase of 'Day of Arbaeen' operation
0
Lebanon News
2024-08-25
Hezbollah publishes new video revealing Israeli sites targeted in retaliation for assassinating its commander Fouad Shokor
Lebanon News
2024-08-25
Hezbollah publishes new video revealing Israeli sites targeted in retaliation for assassinating its commander Fouad Shokor
0
Lebanon News
2024-08-19
Israeli strike targets car in southern Lebanon, leaving one dead and several injured (video)
Lebanon News
2024-08-19
Israeli strike targets car in southern Lebanon, leaving one dead and several injured (video)
0
News Bulletin Reports
2024-08-13
Lebanon's authorities uncover five bodies in Kfarshima house: Here are the details
News Bulletin Reports
2024-08-13
Lebanon's authorities uncover five bodies in Kfarshima house: Here are the details
0
Lebanon News
2024-08-11
Lebanese Army finds main body of missile from Israeli Strike in Miryata forests
Lebanon News
2024-08-11
Lebanese Army finds main body of missile from Israeli Strike in Miryata forests
0
Lebanon News
2024-07-31
Mohammed Khair: Nine buildings damaged in Israeli attack; demolition planned for severely affected ones
Lebanon News
2024-07-31
Mohammed Khair: Nine buildings damaged in Israeli attack; demolition planned for severely affected ones
0
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
World News
2024-07-21
Full Transcript: Trump's Coordinator of Arab Relations Discusses Plan to Win Arab Voters and Achieve Peace
Most read
d-none hideMe
24 hours
7 days
Month
1
Sports News
05:55
Al Riyadi scores its first win in FIBA Intercontinental Cup 2024, defeating Petro De Luanda 80-75!
Sports News
05:55
Al Riyadi scores its first win in FIBA Intercontinental Cup 2024, defeating Petro De Luanda 80-75!
2
Lebanon News
07:07
Man commits family murder-suicide in Koubba, Batroun
Lebanon News
07:07
Man commits family murder-suicide in Koubba, Batroun
3
News Bulletin Reports
13:07
Israel refocuses on northern front: Intensified military drills amid growing threats from Lebanon
News Bulletin Reports
13:07
Israel refocuses on northern front: Intensified military drills amid growing threats from Lebanon
4
Lebanon News
03:25
Israeli army reports 55 rockets fired from southern Lebanon
Lebanon News
03:25
Israeli army reports 55 rockets fired from southern Lebanon
5
News Bulletin Reports
13:12
US repositions naval power: Aircraft carrier USS Theodore Roosevelt departs Middle East
News Bulletin Reports
13:12
US repositions naval power: Aircraft carrier USS Theodore Roosevelt departs Middle East
6
News Bulletin Reports
12:55
New education policy sparks controversy: Lebanon's approach to illegal Syrian students
News Bulletin Reports
12:55
New education policy sparks controversy: Lebanon's approach to illegal Syrian students
7
Lebanon News
07:27
LBCI sources: Ambassadors of Quintet Committee meet at Pine Palace
Lebanon News
07:27
LBCI sources: Ambassadors of Quintet Committee meet at Pine Palace
8
Lebanon News
07:00
Large fire breaks out in Bejjeh, Byblos district
Lebanon News
07:00
Large fire breaks out in Bejjeh, Byblos district
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More