Syria Lira Records Unprecedented Losses Against US Dollar The Syrian lira hit a record low on Sunday after the price of one US dollar increased by 50 lira costing over 5,000 lira, Arabi21 reported. The site quoted Syrian economist Samir Al-Taweel saying he expected the Syrian currency to continue its losses, citing a number of reasons including the Lebanese bank strike following a series of armed hold-ups by clients demanding their savings. Al-Taweel explained that the Syrian regime depends on Lebanese banks to finance imports to Syria, noting that the suspension of work in Lebanese banks has affected the performance of the Syrian and Lebanese liras. He added that the Syrian pound was also affected by the global increase in food and oil prices coupled with the absence of economic measures aimed at stabilising the currency. For his part, economic observer Munther Muhammad noted that the price of the US dollar has recently increased against all currencies, however he noted that this does not "entirely" justify all the losses that hit the lira. "Rather, it seems that the Syrian regime's debt has recently increased as a result of the rise in import prices, coupled with the severe shortage of foreign currency reserves[no thanks to US sanctions] and their depletion during the years of [US funded Proxy war]," he explained. Source: Middle East Moniter https://www.middleeastmonitor.com/20221011-syria-lira-records-unprecedented-losses-against-us-dollar/ Follow:???? @G3News