Syrian government values $1 at SP260
Damascus cityApril 27, 2015http://syriadirect.org/news/syria-direct-news-update-4-27-15/Syria’s Central Bank set the value of one US dollar at SP260.21 for banks and SP260.70 for currency exchange businesses on Monday, Syria’s state news agency SANA reported. No explanation was given for the valuation. A kilo of Arabic bread currently costs SP35 in Damascus, but heavy subsidies do not apply elsewhere and prices can average from SP200 per kilo to up to SP600. Earlier this month, the government raised the price of gasoline from SP130 [$0.69] to SP140 [$0.74] per liter, citing higher oil prices globally. Before the war began in 2011, the unofficial value of a dollar in Syria was around SP50.