Gold Prices Drop Slightly, with 21-Carat at 1.092 Million Syrian Pounds
The exchange rate of the Syrian pound improved against the US dollar in Tuesday's trading. According to the "Lira Today" website, the Syrian pound was trading at 13,800 for buying and 14,200 for selling in Damascus markets.
The website also noted a slight decline in gold prices, with 21-karat gold recorded at 1.092 million Syrian pounds, according to the German News Agency (DPA).
In its first statement since the ousting of former President Bashar al-Assad, the Central Bank of Syria announced that the country would adopt a unified official exchange rate of 12,500 pounds per dollar.
Currency exchange companies in Damascus told Reuters that the Syrian pound had already appreciated from 15,000 pounds per dollar during the final days of Assad’s rule.
Traders attributed the improvement to the return of thousands of Syrians who had sought refuge abroad during the war and the unrestricted use of the US dollar and Turkish lira in markets.
