Syrian Pound reaches lowest record against the USD

Syrian state and black markets have witnessed sharp rise in dollar exchange rates. Each dollar used to be worth less than 50 Syrian Pounds before 2011.

Assad central bank has desperately imposed new foreign exchange controls in an attempt to stem the sharp fall in Syrian Pound rates against US dollar, observers have reported.

The Syrian currency has plunged to this level because of paralyzing all vital sector including tourism and economy after Assad’s brutal crackdown on Syrians who have taken to streets asking him to step down since 2001.

A hotel’s owner in the heart of Damascus, spoke to Orient Net on condition of anonymity, "Syrians have lost faith in the Syrian pound, its continuous collapse could not be salvaged."