Today, on Saturday, the Syrian pound recorded a new record collapse on the black market, having stepped over the threshold of 6 thousand against the dollar, according to electronic applications that monitor the movement of the currency.

Unofficial electronic apps tracking the black market showed an exchange rate of £6,010 to one dollar as merchants rely on the app-tracked parallel market price to price their products while the official exchange rate is set by the Central Bank. equivalent to £3,015 against the dollar.

After years of war, Syria is facing a suffocating economic crisis, accompanied by rising prices for basic materials, power outages and fuel shortages.

Source: AFP

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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