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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Syrian Pound Hits New Low on Black Market

Stacks of Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. REUTERS/Khalil Ashawi

Syria's nose-diving pound hit a new record low Saturday against the dollar on the black market, according to websites monitoring the exchange rate, as the country faces severe fuel shortages.

The Syrian economy has been battered by more than 11 years of war and crippling Western sanctions, pushing 90 percent of the population into poverty, according to the United Nations.

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