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Saturday, October 24, 2026English edition
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The Geopolitician

Country risk, from the local press

Syria · Country watch

Currency Volatility Hits Oil Prices, Economic Challenges

Syria faces rising oil prices due to currency volatility, while economic challenges persist amid inflation and regulatory inefficiencies.

· · 3 sources

The picture Deteriorating How this is judged →

Business conditions in Syria are deteriorating as currency volatility drives up oil prices and inflation outpaces income growth, straining economic stability.

Flare-up watch: Watch what this means → — All Syria briefings →

In this briefing Syrian government · Syrian pound · Syria · US dollar · Euro

Regulation

  • Public sector
  • Finance

Economic pressures mount as inflation outpaces income

Syrian citizens are experiencing increased economic pressure as inflation continues to outpace income growth, Al-Watan reports. The rising cost of living is exacerbated by production and shipping cost hikes, currency depreciation, and budget deficits. Traditional regulatory measures have proven inadequate, prompting calls for comprehensive economic reforms to address the root causes of inflation.

Impact Public-sector workers and financial planners face challenges as inflation erodes income and savings, demanding new economic strategies.

Sources: Al-Watan الوطن ↗

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

Nothing significant reported today.

Markets

  • Retail
  • Agriculture

Oil prices rise to 350 lira amid currency fluctuations

The price of vegetable oil in Syria has surged to over 350 lira per liter, driven by ongoing currency fluctuations, according to Al-Watan. The oil market is particularly sensitive to exchange rate changes, with prices sometimes adjusting multiple times in a single day. This highlights the broader inflationary pressures affecting consumer goods in the country.

Impact Retailers and consumers face increasing costs as oil prices rise, affecting purchasing power and market stability.

Sources: Al-Watan الوطن ↗

  • Finance

Exchange rates for dollar and euro fluctuate in Syria

Euro Banknotes Europa series as of 28th May 2019
Euro Banknotes Europa series as of 28th May 2019 The RedBurn, ECB decisions ECB/2003/4 and ECB/2003/5 via Wikimedia Commons

The exchange rates for the US dollar and euro against the Syrian pound continue to fluctuate on the black market, according to aks alser. These rates, often more accurate than official figures, vary slightly between cities and are updated frequently. The volatility reflects ongoing economic instability and affects currency traders and importers.

Impact Currency traders and importers face uncertainty as exchange rates for major currencies fluctuate, impacting transaction costs.

Sources: aks alser ↗

Trade

Nothing significant reported today.

Politics

Nothing significant reported today.

Also today in Syria

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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The same day elsewhere