Impact of Syrian Conflict on Currency Valuation
Currency Value Decline Post-Conflict
The economic landscape in Syria has been significantly altered in the aftermath of ongoing conflict and instability. Recent developments have seen a notable depreciation of the Syrian lira.
According to Rawaz Mirza, a currency exchange operator in Sulaimani, “Today, 1 million Syrian liras were exchanged for 146,000 dinars,” illustrating a challenging currency exchange scenario as of Friday.
For context, the lira experienced a brief period of appreciation, with 1 million lira valued at approximately 161,000 dinars just days prior. However, this recent two-day trend has seen the lira’s value plummet to around 148,500 dinars.
In addition to currency fluctuations, the ongoing military confrontations between the Syrian army and residual forces affiliated with Bashar al-Assad have escalated in western Syrian cities and towns. Preliminary reports indicate that over 70 individuals have lost their lives, while many others have sustained injuries amid the clashes.
