Syrian Pound Hits Record Low of 1,000 against the Dollar

The Syrian pound hit a record low against the dollar. (Reuters)
The Syrian pound hit a record low against the dollar. (Reuters)
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Syrian Pound Hits Record Low of 1,000 against the Dollar

The Syrian pound hit a record low against the dollar. (Reuters)
The Syrian pound hit a record low against the dollar. (Reuters)

The Syrian pound hit a new black market low on Sunday after weakening to its lowest rate yet against the US dollar.

Currency offices were selling dollars on the black market for more than 1,000 pounds for the first time, amid an unprecedented hike in the prices of goods and food products.

In the past few days, the pound rose 200 points against the dollar, prompting a campaign on the social media to back the currency.

However, the drop in the pound did not last long. It again returned to the range of the 1,000 on Sunday.

Meanwhile, the Syrian Central Bank posted on its website that the official rate of the pound was 434, avoiding mentioning the deterioration of the currency.

At the start of the conflict in 2011, the rate stood at around 48 pounds to the dollar.

The drop in its value drove a sharp hike in the prices of goods, with many almost doubling in recent weeks.



Houthis in Yemen Say They Won’t End Support for Gaza

 Houthi supporters chant slogans during a weekly anti-US and anti-Israel rally in Sanaa, Yemen, Friday, June 13, 2025. (AP)
Houthi supporters chant slogans during a weekly anti-US and anti-Israel rally in Sanaa, Yemen, Friday, June 13, 2025. (AP)
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Houthis in Yemen Say They Won’t End Support for Gaza

 Houthi supporters chant slogans during a weekly anti-US and anti-Israel rally in Sanaa, Yemen, Friday, June 13, 2025. (AP)
Houthi supporters chant slogans during a weekly anti-US and anti-Israel rally in Sanaa, Yemen, Friday, June 13, 2025. (AP)

A top leader of the Iran-backed-Houthi militias in Yemen said they will keep up their support for Palestinians in the Gaza Strip until Israeli “aggression stops, and the siege is lifted.”

“Our operations in support of Gaza will not cease, no matter the sacrifices,” said Mahdi al-Mashat in a statement Wednesday.

The Houthis are the last militant group in Iran’s self-described “Axis of Resistance” that is capable of regularly attacking Israel.

They have been firing long-range missiles at Israel in the months since it resumed the war in Gaza, setting off air raid sirens but generally causing few casualties. They have also been attacking shipping in the Red Sea and Gulf of Aden.