SYRIA

Syrian Pound Loses More Value On Black Market

The ongoing political turmoil in Syria since March 2011 has eroded about 50% of the foreign exchange value of the Syrian pound on the black market, exchange dealers said last week. The value of the pound slipped from an official rate of $1=S£47 in March to $1=S£71 on the black market at the end of last week. At the same time the authorities have gradually allowed a depreciation of the official exchange rate to $1=S£57.9...