Aleppo: Retail shop owners have been affected by the decline in the value of the Syrian pound against dollar

The continued decline in the value of the Syrian pound against the US dollar has become a burden on the owners of retail stores in the Ashrafiyeh and Sheikh Maqsoud neighborhoods of Aleppo, as most of them relied on reducing working hours in their shops, due to the decline in the purchasing power of the people, with the continued depreciation of the value of the Syrian pound.

“Saleh Sino,” owner of a detergent shop, says, “It is no longer possible for me to continue working in my shop in this situation. Today we sell at a price, and after several days we cannot buy new goods, because the producer links his sale to the exchange rate.”

“Sino” mentions that the difference in product prices has become large in a short period, which is something that retailers complain about, as the difference in the price of materials has become, within a few days, between 2,500 and 3,500 Syrian pounds for each type, “I am forced to liquidate my local goods, and then close it, because I can no longer buy new goods, under the current circumstances.”

“Ramadan Hasan,” the owner of a food store, points out that the goods have stagnated, and their validity may expire if the value of the Syrian pound continues to decline, due to the decline in demand, explaining that the rise included all kinds of foodstuffs, smoke, and grains, “which forces us to close our stores, especially since our capital is weak.”

Nazmi Zakaria, owner of a wholesale store selling foodstuffs, explained, “The continued high exchange rate of the dollar, against the Syrian pound, could completely freeze buying and selling operations, especially since some retail store owners pay half of the bills for the goods, and leave the other as postpaid, but with the continuous decline in the value of the Syrian pound, we cannot sell in this way.”

The Syrian pound is witnessing a significant decline against the US dollar, which has negatively affected the lives of the people, which is represented in their weak purchasing power.

*The photo is from the network archive