Russia Sends 75 Billion Printed Pounds to Syria

Sources reveal that the first batch of Syrian currency (75 billion pounds), printed in Russia, arrived last week. The source also mentions that other batches are still on their way but the arrival of this first batch was ahead of schedule which was next August

 

 

The source confirmed that the currency received is very similar to the currency currently in circulation and denies rumors that this new currency will replace the old.

According to the Reuters News Agency there were quoted Syrian merchants saying that the batches of new currency arrived in Damascus and Aleppo and are in circulation.

The issue of the printing in Russia for Syria has caught the attention of observers of the finance and economy in terms of the consequence of this step on the Syrian economy which has lost about 50% of their purchasing power. These concerns are summarized in the possibility of repeating the scenario of printing currency for Syria in the eighties without cover, which has negatively impacted the Syrian economy till now. Economic analysts confirm that the current currency printing holds hazardous indicators for a major crash in the Syrian economy in the four following months.