Currency in Syria
A practical currency and money guide to travel, living and doing business in Syria and the Syrian pound (SYP).
What's in this Syria currency guide:
What currency is used in Syria?
The official currency of Syria (country code: SY) is the Syrian pound, with symbol £ and currency code SYP.
Things to know about the Syrian pound
The Syrian pound (SYP) is the official currency of Syria, a country located in the Middle East. Here are a few things to know about the Syrian pound:
- The Syrian pound is abbreviated as SYP and is divided into 100 piastres.
- Since July 2007, the Syrian pound has been pegged to the IMF SDR (Special Drawing Rights).
- Syria has a mixed economy, with a significant public sector and a large agricultural sector. The country is also a major producer of oil and natural gas.
- The Syrian pound has experienced significant depreciation in recent years due to economic challenges and political instability in the country. Inflation has also been a concern, with the Central Bank of Syria implementing measures such as raising interest rates to try to curb rising prices.
Travel Ideas and Money Tips for Syria
Syria is a country located in the Middle East, bordered by Turkey, Iraq, Jordan, Israel, and Lebanon. The official language is Arabic and the currency is the Syrian pound. The population is predominantly Muslim, with a mix of Sunni and Shia denominations.
The country has a rich cultural heritage, with numerous historical sites such as the ancient city of Palmyra, the Citadel of Aleppo, and the Krak des Chevaliers castle. Visitors can also explore the bustling markets and bazaars, try traditional Syrian cuisine, and experience the country's hospitality.
However, due to the ongoing civil war, the country is not safe for travel and the U.S. Department of State advises against all travel to Syria. The situation is unpredictable and can change rapidly, with areas of the country experiencing ongoing conflict and violence. Access to basic necessities such as food and medical care can also be limited.
Expat Money & Business Guide to Syria
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Syria.
For expats in Syria, the situation is very challenging. Many have been forced to leave the country, and those who remain face significant risks and challenges. Due to the unstable security situation, foreigners are advised to leave the country if possible.
Managing your finances in Syria
Here we list some key points for expats and businesses to consider when managing financial dealings in Syria:
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Understand Syrian pound currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the SYP exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
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Use a local Syrian pound bank account: A local SYP bank account can make it easier for you to manage your finances and pay bills while you are in Syria. It may also be more convenient to use a local SYP bank account to make purchases and withdraw cash.
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Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Syria. This can help you avoid legal issues and ensure that you are complying with local requirements.
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Consider the tax implications: It is important to understand the tax implications of living or doing business in Syria. This can help you plan your finances and ensure that you are paying the correct amount of tax.
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Seek financial advice: If you are unsure of how to manage your finances in Syria, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
USD/SYP – Market Data
The exchange rate of Syrian pound (SYP), or the amount of SYP that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/SYP rate plus recent trend, chart, and historic rates.
| Date | USD/SYP | Change | Period |
|---|---|---|---|
15 May 2023 | 2512.53 | no change | 2 Week |
28 Feb 2023 | 2512.53 | no change | 3 Month |
29 May 2022 | 2512.53 | no change | 1 Year |
30 May 2018 | 514.99 | 387.9% ▲ | 5 Year |
31 May 2013 | 70.14 | 3482.2% ▲ | 10 Year |
03 Jun 2003 | 46.69 | 5281.3% ▲ | 20 Year |
Compare Syrian pound Exchange Rates & Fees
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Syria or planning a trip or maybe living there, so will need to exchange and spend Syrian pound.
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It is important to note that the exchange rate of the Syrian pound can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect SYP exchange rates before making any financial decisions.
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