ALEPPO, Syria — An unprecedented plummet in the Syrian pound’s value against foreign currencies is contributing to skyrocketing food prices and compounding Syrians' already-dire economic situation as the war here enters its fifth year.
The pound's exchange rate against the US dollar exceeded 500 in early April. Markets in the Syrian opposition-controlled areas in Aleppo have been plagued with a semi-recession due to the rising prices of food and other commodities, the declining local currency and weak purchasing power. This comes amid a lack of job opportunities and low revenues.
