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U.S. dollars and Syrian liras in the hands of black-market money changers on a street in Damascus, Jan. 14, 2025. (Credit: Louai Beshara/AFP)
Add as preferred on Google The recovery was short-lived. Bolstered in the aftermath of the fall of Bashar al-Assad’s regime on Dec. 8, 2024, by hopes of an economic recovery and the easing of restrictions on foreign-currency transactions, the Syrian lira is once again under pressure. Nearly two years after the end of Baathist rule, the dollar is trading at around 142.5 lira on the parallel market, compared with an official selling rate of 122.5 and a buying rate of 121.5 lira — a 16.3% gap between the two rates. Read more Cécile Boëx: Syria’s revolutionary legacy lives on By mid-December 2024, the greenback had lost between 17% and 33% of its value against the Syrian lira in a particularly volatile market. Since then, much of that appreciation has been reversed. Foreign-currency inflows are insufficient to meet demand, while import-related needs are... You have reached your article limitStay informed about a Middle East in crisis.Subscribe for $0.5/month for the first 3 months. Subscribe now Log in This article is only available to L’Orient Today subscribers. Subscribe now Log in Create a free account to continue reading this article. You’ll also receive The Morning Brief, our must-read daily digest of Middle East news. Opt out anytime Email Address Password Email Address Password I would like to receive special offers from L'Orient Today as well as selections of the best articles. Register By creating an account, you agree to the terms and conditions of use and our privacy policy. Register Or register with: Facebook
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