Syrian pound hits record low as economic crisis worsens

The Syrian pound hits a record low as the war-torn country’s economy continues to tank.

The US dollar is trading on the black market at 4,000 pounds, increasing the misery of many Syrians who have been struggling to make ends meet with a sharp increase in commodity prices. The official price remains 1,256 Syrian pounds to the dollar.

The new banknote of 5000 Syrian pounds, January 24, 2021 (SANA via AP, File)

At the start of the conflict in mid-March 2011, the US dollar was worth 47 Syrian pounds.

The average salary in Syria stands at about 90,000 pounds ($22.50) per month making it difficult for many Syrians to survive. With the crash of the local currency, prices at shops have been changing almost every day.