Syrian Pound (552)


Syria’s gold market remains disrupted by tensions between goldsmiths and the Ministry of Finance, unstable prices and the spread of unmarked gold.


The Central Bank of Syria has issued a circular to local banks asking them to restrict credit facilities they grant to importers, an additional sign of the pressures faced by the economy.


The rate of the U.S. dollar relative to the Syrian Pound in the black market since March 2011.


The Syrian pound has fallen to its lowest level on record relative to the U.S. dollar in the local foreign exchange market.


Syria’s inflation rate started to increase again at the end of last year although it remained below its post-2011 average.


Syria’s commission for combating money laundering and the financing of terrorism has issued its 2018 annual report.


Syria’s inflation rate remained mostly flat up to August last year, according to official data.


The Federation of Syrian Chambers of Commerce has established a new body called the Central Committee for Exports (CCE) to promote exports only weeks after the Syrian Exporters Federation was dissolved.


This text, enacted at the beginning of 2018, establishes a protected area around the Fijeh Springs, which involves the expropriation of real estate within the immediate surrounding of the water canals that transport water from the springs to Damascus.


The following decision and its implementation instructions regulate investment in Syria's tourism sector.


The first private sector photovoltaic solar power plant has started producing in the Industrial City of Hessia (ICH) and has been connected to the national electricity grid, a government official has said.


Hazem Qarfoul, the governor of the Central Bank of Syria, has implicitly admitted that defending the value of the Syrian pound in the foreign exchange market was no more a priority.


The dollar has crossed the 600 level in the Syrian foreign currency market as the pound fell to its lowest level in three years.


A plan by the government to force again exporters to hand back their foreign currency revenues to the Central Bank is creating tensions between manufacturers and traders.


After months of continuous decline, the value of the Syrian pound in the local foreign exchange market stabilized in May, although it seems unlikely to regain ground.


In the first five months of 2018, Syria’s inflation rate was largely flat and in some months prices even declined, official data show.


The shortages of energy products are increasing economic hardship for Syrians and posing various types of economic and public services challenges.


The Ministry of Petroleum and Mineral Resources has decided to reduce further the petrol it is allocating to individual car owners as shortages harden across Syria resulting in increased pressure on the currency.


This table provides data on Syria's gross domestic product between 2010 and 2017.


Noor Microfinance, Rami Makhlouf’s latest venture, is set to start its operations.


The Syrian pound has continued to slide in the foreign exchange market and has lost some 2.6 percent relative to the dollar since the beginning of the month.


A full breakdown of Syria's 2019 budget with current and investment expenses detailed for each item in the budget.


A breakdown of Syria's 2019 forecast budget revenues.


This is a summary of the main expense and revenue items of the 2019 budget.


Syria's Central Bank has raised interest rates on time dollar and euro deposit accounts by 1 percent to attract more deposits in the banking system.


In this article The Syria Report addresses key issues raised in the debate over western sanctions on Syria and makes a number of policy recommendations.


Note: The contract value will be paid in Syrian pounds


This decree passed in 2012 regulates the reclamation of agricultural land and its redistribution to new beneficiaries.


This law is a key part of the legal corpus dedicated to the real estate sector that the Syrian government has been developing in the past few years.


The Central Bank of Syria has announced that it will issue certificates of deposits later this month for the first time in its history, as the government seeks to raise funds to pay for its expenses.


The Syrian pound is resuming its downward slide and has already lost some six percent of its value relative to the dollar since the beginning of the year.


The following table provides data on traffic in Syria's two commercial ports of Lattakia and Tartous between 2006 and 2018.


The table below indicates the total revenues collected in Syrian Pounds by the Syrian Customs Department between 2010 and 2018.


Qatar National Bank Syria has announced the resignation of its CEO, the third such executive to resign from Syria’s top private banks in the past six months.


The Syrian government has increased the price of certain types of bakery products, although the price of subsidized bread has remained unchanged.


Syria and Russia signed several agreements during a joint meeting in Damascus last week, but whether they will materialize in the absence of significant funding is an open question.


Syria has issued a tender to import flour to meet local shortages.


Syria’s inflation rate was almost flat last year as some product categories actually witnessed a decline in prices, new data from the government indicate.


Financial results from Syrian public joint stock companies in the first nine months of this year appear to confirm an improvement in business activity in some sectors.


New taxes by the Ministry of Finance are increasing significantly the price of gold, an important store of value for Syrian households.


The Syrian pound has fallen to its lowest level in a year relative to the dollar and is now close to crossing the 500 mark in the black market.


After failing to get any financial support from Russia or Iran, Syria’s ministry of electricity has issued tenders to build and repair power turbines in Aleppo hoping that bidding companies accept cumbersome payment terms.


Syria’s power generation utility has issued a tender for the construction of a new power plant in Deir-ez-Zor although its requirement that bidders offer favourable payment terms reduces considerably potential interest in the project.


This law is supposed to answer to the challenge posed by the large number of land and real estate property documents that were lost or damaged during the conflict.


This legislative decree was initially part of a set of legal texts that contributed to the liberalization of the banking sector.


A joint report by the FAO and the World Food Program has highlighted the dramatic situation of the Syrian agricultural sector, including the worst wheat harvest in three decades, although the return of security has ensured a relative stabilization in some sub-sectors.


Electronic payments services in Syrian Pounds


In a relatively surprise move, the governor of the Central Bank of Syria was dismissed yesterday.