Aleppo events cause instability in dollar prices in North-East Syria

Since the outbreak of military events in Aleppo, the foreign exchange market in North-East Syria has witnessed a state of chaos and instability, especially in the exchange rate of the US dollar.

The reason for this is the instability that the region is experiencing and the country’s central bank’s loss of control over the exchange rate, according to observers.

In this context, Hamed Al-Shibli, owner of an exchange shop in Tabqa market, explained to ASO News Network that the unexpected changes in the prices of the Syrian pound and the fear of its deterioration led the market to temporarily close yesterday, Saturday, due to the absence of a real exchange rate for the dollar.

However, Tabqa today witnessed a relative improvement with the reopening of exchange markets, with dollar exchange rates ranging between 16,500 and 17,000 Syrian pounds per dollar.

This price discrepancy reflects the continuing effects of military events in North-West Syria on economic activity in the city and Syrian markets in general.

*The image is from the archive