Syrian pound gains against U.S. dollar
The Syrian pound has recently gained grounds against the US dollar and other major world currencies, according to Al-Hayat daily.
Presently, the exchange rate of the Syrian pound stands at SP 48.9 to the US dollar compared with SP 50 in previous months. Although the rise in the local currency value coincided with the re-deployment of the Syrian army in Lebanon, economists are not likely to relate the two.
Instead, they attribute the value increase of the Syrian pound to seasonal shifts, in which every summer Syrian expatriate workers and tourists arrive into the country bringing with them capital, thus increasing the demand for the Syrian pound. –(MENA Report)
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