Syria09 July, 20263 min read
Syrian Pound Holds Near 13,000 Per US Dollar After June Volatility
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Pound near 13,000 per USD in July after June volatility peaking around 14,500. Official rate fixed by central bank; parallel market drives day-to-day pricing.
Pound steadies, volatility lingers
The Syrian pound’s exchange rate stayed near 13,000 pounds per US dollar in July after sharp volatility in June, when it reached 14,500 pounds per dollar in mid-month, according to Al-Jazeera Net.
In parallel-market trading on Wednesday, July 8, 2026, CNN al-Iqtisadiyya said the pound held steady against the US dollar across all provinces, while the Syria Central Bank bulletin fixed the official dealings.
CNN al-Iqtisadiyya put the Damascus parallel-market dollar at 13,100 pounds for buying and 13,200 pounds for selling, and said 100 dollars equals 1.31 million Syrian pounds in the black market.
The same CNN al-Iqtisadiyya report also cited bank rates of 12,150 pounds (old lira) for buying and 12,250 pounds for selling, and 121.50 pounds (new lira) for buying and 122.50 pounds for selling.
Al-Jazeera Net framed the recent movement as not a uniform improvement, with academic economist Dr. Ziad Ayub Arbash saying the scene “does not reflect a uniform improvement,” but instead shows a widening gap between official and parallel prices.
Officials, economists debate causes
Al-Jazeera Net reported that Dr. Ziad Ayub Arbash linked the pound’s parallel-market strengthening to factors including oil-derivative pricing in Syrian pounds exclusively at all stations, and said Arbash warned that the Central Bank’s generalization about the approaching end of the old currency exchange deadline “prompted large financial blocks stored previously to come out for trading.”
Economist Mulham Al-Jazmati, also cited by Al-Jazeera Net, cautioned that the market is “extremely sensitive to events,” where security tension, protests, rumors, or changes in expectations can quickly shift demand for the dollar.
In a separate report, SANA said the new Syrian currency was launched in Damascus at an official ceremony at the Damascus Palace of Conventions in the presence of President Ahmad al-Charaa and his wife, Latifa al-Droubi, with the Governor of the Central Bank of Syria, Abdelkader Al-Husriyah, unveiling the currency.
SANA quoted President al-Charaa saying the issuance of the currency “does not mean an improvement in the economy, but rather a simplification of monetary transactions.”
SANA also said the president stressed that the transition phase is sensitive and that the most important factor is to avoid panic among the population so people do not rush to exchange old currencies for the new.
Currency reform and what’s at risk
SANA described the currency reform as requiring lengthy discussions and said President al-Charaa clarified that the removal of two zeros from the old currency and its replacement by the new one is meant to facilitate commercial operations and reduce dependence on the dollar. SANA also warned that citizen confidence in the Syrian-pound is part of confidence in the Syrian economy, saying the surge in the exchange rate “has also undermined confidence in the Syrian pound, pushing people to hoard money at home rather than deposit it in banks.” In Al-Jazeera Net’s account of the policy debate, Mulham Al-Jazmati argued that stabilization is not merely an announced decision and requires foreign currency reserves sufficient to defend a given exchange rate, along with the ability to prevent a return of the black market.
Al-Jazeera Net further said Lamiaa Asi ruled out attributing fluctuations to clear monetary or economic policies alone, pointing instead to the “weakness of foreign exchange reserves.” Together, the reports portray a reform effort—paired with central-bank actions and market sensitivity—where the exchange-rate path depends on reserves, confidence, and the ability to manage parallel demand for dollars.