Syrian Pound


Also found in: Dictionary, Thesaurus, Acronyms, Wikipedia.

Syrian Pound

The currency of Syria. It was introduced after World War I under the French Mandate. It was first pegged to the French franc, then the British pound and finally the U.S. dollar. Now, the Central Bank of Syria sets official exchange rates, but these can vary widely from the black market exchange rates. There are restrictions in place on how many pounds can leave the country at a given time. It is known as the pound in English, the livre in French, and the lira in Arabic.
References in periodicals archive ?
The cheap Syrian pound has even allowed some firms to export products to Iraq.
Another Syrian resident in the UAE, Abdul Rahman, said: "There is no advantage in the Syrian pound's decline, because as much as the Syrian pound is dropping, living costs in Syria are getting too expensive and I have to send more money to meet my family's needs.
The Syrian Pound was then linked to the International Monetary Fund's (IMF) special drawing rights (SDR) basket, consisted of 44% Euro, 34% US$, and 11% of British Pound and Japanese Yen each.
AFP quoted a trader as saying, "The dollar was being exchanged on Tuesday at 115 to 123 Syrian pounds, while it was worth more than 160 pounds last week.
Zoubi said in his confession broadcast by Syrian television Thursday that Al-Shr would use intermediaries to exchange Syrian pounds for dollars from the Central Bank of Syria, and would subsequently exchange the funds on the black market and take advantage of the difference in price.
Damascus, SANA-The second phase of the public intervention sessions to support the Syrian pound (Lira ) and national economy is kicked off by the Syrian expatriates within "the Syrian Phoenix" campaign.
They want to minimize the impact on the Syrian pound by reducing the liquidity in the market, but this is not sustainable in the long term," Mehchy said.
Damascus, SANA- The second phase of the public intervention sessions to support the Syrian pound (Lira) is to start on 25th of the current month by the Syrian expatriates within "the Syrian Phoenix" which has been recently launched.
Syrian Prime Minister Wael al-Halki said the government would continue to work on a package of measures to stabilize the Syrian pound against foreign currencies and preserve the national economy "in the face of the media and economic war.
Mayaleh said there is a suggestion by the bank to fix the exchange price for a specified duration, for 3 months as an example, provided that the values of imports be specified and put in the central bank in the Syrian pound.
International sanctions are biting and the Syrian pound has depreciated sharply.
The Syrian Central Bank has decided to devalue the official Syrian pound by 10%.