Syrian lira
| Syrian lira | |
|---|---|
| Country: |
 Syria
|
| Subdivision: | 100 piastres |
| ISO 4217 code : | SYP |
| Abbreviation: | syr £ |
|
Exchange rate : (29 Mar 2020) |
1 EUR = 573.03 SYP 1 CHF = 532.506 SYP |
The Syrian lira (also Syrian pound , Arabic الليرة السورية, DMG al-līra as-sūriyya ) is the currency of Syria .
Denomination
A lira is divided into 100 piasters (abbreviation PS ; Arabic qirsch , plural qurūsch ), but these are rarely used.
There are the following denominations:
Foreign exchange regulations
Syrian lira are not convertible. The import and export of Syrian lira is prohibited. When traveling to Syria, it is therefore not advisable to buy lira abroad, especially since the rate is much less favorable than in Syria itself due to the lack of convertibility .
Exchange rate fluctuations
From 1979 to 1989 the value of the lira fell significantly against the US dollar from 3.9 lira to 45 lira per US dollar. During this time the country was in a severe economic crisis, which was due to both internal mismanagement and the decline in aid payments from the Soviet Union and the Gulf States. In the Syrian Civil War that began in 2011, the lira was devalued against the US dollar and reached a low of around 335 lira for one dollar in the summer of 2013, when international intervention seemed imminent. The higher degree of control in the areas held by government forces, which allowed them to better fight the black market , combined with the influx of cash worth hundreds of millions of US dollars into the rebel areas by enemies of the regime, the lira stabilize at around 1 in 150. By 2016, however, the price collapsed to a value of over 1: 500.
According to observers, the Syrian central bank had accumulated at least 600 million US dollars in cash reserves by the end of 2013 by issuing lira against dollars.
Web links
Individual evidence
- ↑ Usahma Felix Darrah: History of Syria in the 20th Century and under Bashar Al-Asad , Marburg, 2014, pp. 129–130
- ↑ Suleiman Al-Khalidi: "Syria builds dollar reserves, thanks partly to Assad's enemies" Reuters from January 15, 2014, viewed on January 15, 2014
