Currency Rises Against Dollar and Euro in Parallel Trading, While Gold Prices Dip
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| Syrian Pound Gains Ground in Volatile Market |
In Damascus, Aleppo, and Idlib, the pound climbed to 9,900 for buying a dollar, up from 10,200 the night before. Selling rates followed suit, hitting 10,100 from 10,400. Over in Hasakah, the story was the same—9,900 to buy, 10,100 to sell. Small gains, but gains nonetheless. Against the euro, the pound pushed higher too. Damascus and Aleppo saw rates rise to 10,342 for buying and 10,556 for selling. Idlib and Hasakah mirrored the trend, each ticking up a notch. The numbers don’t lie, but they don’t tell the whole story either.
Official transactions, though, stayed frozen in time. The Central Bank kept the rate at 13,200 pounds to buy a dollar, 13,332 to sell. The euro dipped slightly, but not enough to matter. Stability, they call it. Others might call it stagnation.
Gold, meanwhile, took a hit. Prices dropped across the board—18-karat, 21-karat, 24-karat—all losing their shine. A gram of 24-karat gold fell to 961,000 pounds from 997,000. Not a crash, but enough to make you notice.
What’s moving the needle? A mix of things, really. Russia sent 300 billion pounds to Syria, part of a deal to print currency. The government cut jobs—ghost jobs, they say—trimming expenses. Military spending shifted, too, as some branches dissolved. Less money sloshing around, more demand for the pound. Business activity picked up, and sanctions eased—just a little. Small changes, but in a fragile economy, small changes can ripple.
The Syrian pound isn’t just numbers on a screen. It’s a barometer, a reflection of a country trying to steady itself. For now, it’s up. Tomorrow? Who knows. The markets don’t care about predictions. They just move. And so does the pound.