US Dollar Is No Longer Welcome in Syria

Assad has banned the US dollar in Syria. Most people would say “so what”. As Qaddafi found out in Libya, dictators are not allowed to challenge the supremacy of the US dollar. Does this mean that Al Qaeda must use Syrian Lira to buy US arms in Syria?

David DeGerolamo

Syria’s Assad bans foreign currency transactions, state news agency says

Syrian President Bashar al-Assad issued a decree Sunday banning the use of foreign currency in commercial transactions, state news agency SANA said.

The US dollar is the preferred foreign currency in Syria where the lira has lost three quarters of its value against the greenback since the outbreak of the anti-regime uprising more than two years ago.

At the start of the conflict in March 2011 one dollar fetched 50 liras. while a dollar today is worth more than 200 liras.


Plugin by: PHP Freelancer
This entry was posted in Editorial, Financial and tagged , , . Bookmark the permalink.