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Central Bank Raises the Syrian Lira Against the Dollar
The Central Bank of Syria has announced an increase in the exchange rate of the Syrian lira against the US dollar and other foreign currencies in an official bulletin issued today, Sunday, marking the second such step since the beginning of 2025.
The bank set the exchange rate of the Syrian lira against the dollar at 12,000 lira for buying and 12,120 lira for selling. It also set the exchange rate for the euro at 12,976.80 lira for buying and 13,106.57 lira for selling, and for the Turkish lira at 320.81 lira for buying and 324.02 lira for selling.
The bank clarified that the exchange rate of the US dollar in its transactions with licensed banks is 12,000 lira for buying and 12,120 lira for selling, and it set a price fluctuation margin of 5%.
On January 5 of this year, the bank issued its first bulletin for 2025, in which it set the exchange rate of the Syrian lira against the dollar at 13,000 lira for buying and 13,130 lira for selling. It also set the exchange rate for the euro at 13,399.10 lira for buying and 13,533.09 lira for selling, and for the Turkish lira at 367.53 lira for buying and 369.37 lira for selling.
At that time, the bank also indicated that the exchange rate of the US dollar for remittances received from abroad is 13,000 Syrian lira, noting that this rate will be applicable from the date of the bulletin's issuance until further notice.
The Syrian lira has experienced a significant increase in value against the US dollar since the ousting of the former Syrian regime’s president, Bashar al-Assad, on December 8, following a series of consecutive collapses since 2011.
This improvement coincides with the return of tens of thousands of displaced and expatriate individuals to their homeland following the regime's fall, and the repeal of decrees prohibiting the circulation of foreign currencies, which led to a revitalization of market activity. In the days following Assad's escape, the dollar reached approximately 15,000 Syrian lira, having approached 35,000 lira just days before.
This improvement has also been accompanied by the new government's announcement of its goals to enhance the economic situation and create an attractive investment environment for capital, amid numerous significant economic and financial challenges.
