Middle-east Arab News Opinion | Asharq Al-awsat

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An employee counts Syrian pound notes at the Syrian central bank in Damascus in this April 23, 2013 file photo. (REUTERS/Khaled al-Hariri/Files)

Syria’s Currency Crisis

by Hannah Lucinda Smith | Jul 14, 2013 | Features

On an afternoon that is so hot it’s almost unbearable, the customers still crowd into Hasan’s tiny shop, exchanging handfuls of notes with the two men sitting behind the counter. Next to them, a computer screen dictates their deals. Today, they can exchange one US...

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An employee stamps stacks of Syrian pound notes at the Syrian central bank in Damascus April 23, 2013. (Reuters/Khaled Al-Hariri)

Experts warn against holding, purchasing collapsing Syrian pound

by Fatah Al-Rahman Youssef | Jun 22, 2013 | Business

Riyadh, Asharq Al-Awsat—Many Syrian traders have converted their Syrian pound-dominated assets to dollars for fear of losing their value, given the growing unrest in Syria and the destruction of its infrastructure. The Syrian pound has lost 77% of its value since the...

Media ID: 55296808
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A Syrian refugee takes Syrian currency from the customers at his shop at Al Zaatri refugee camp in the Jordanian city of Mafraq, near the border with Syria February 21, 2013. (REUTERS)

Central Bank Governor on Syrian Pound’s Record Low

by Asharq Al-Awsat | Mar 25, 2013 | Business

London, Asharq Al-Awsat—The governor of the Syrian central bank, Adib Mayaleh, yesterday held his country’s citizens responsible for the declining exchange rate of the Syrian pound—which recently reached a record low of 123 pounds to the US dollar—because they are...