Shift in Currency Exchange Rates Following Syrian Agreement
The recent agreement between Hezbollah and the Damascus authorities has prompted significant shifts in currency exchange dynamics. Notably, the value of the Syrian lira has increased by 20,000 Iraqi dinars per million Syrian liras. Currently, the exchange rate remains stable against the US dollar.
According to Rawaz Mirza, a currency exchange operator in Sulaimani, the conversion rate sits at 147,500 dinars for 1 million Syrian liras as of this week. This marks an increase from the pre-agreement rate, where one million Syrian liras traded at 127,000 dinars in the Kurdistan Regional Government (KRG) markets.
On March 10, 2025, a pivotal eight-point agreement was executed between Syrian interim President Ahmed Shara and the commander-in-chief of the Syrian Democratic Forces, Mazlum Abdi. The implications of this agreement have initiated notable movements in Syrian currency markets, which are currently experiencing volatility. Mirza commented on this development, indicating expectations of further changes in currency valuations.
As for the Iraqi dinar, it has remained relatively stable in recent days. The exchange rate currently reflects 148,100 dinars per 100 US dollars, indicating consistent performance in the face of regional economic shifts.
| Currency | Exchange Rate (in Dinars) |
|---|---|
| 1 Million Syrian Liras | 147,500 Dinars (Post-Agreement) |
| 1 Million Syrian Liras | 127,000 Dinars (Pre-Agreement) |
| US Dollar | 148,100 Dinars for 100 USD |
This evolving situation in currency exchange highlights the interconnected nature of regional currency markets and the potential impact of political agreements on economic factors. Stakeholders in both the Syrian and Iraqi economies should closely monitor these developments as they could influence future trading conditions and economic stability.
