The Fall in the Value of the Syrian Pound

The Black-Market SYP/USD Exchange Rate

40

90

SYP/USD Exchange Rate (y-axis inverted)

140

190

240

290

Black-Market SYP/USD Exchange Rate Official Exchange Rate

Central Bank Intervention Rate

340

Mar-12

Aug-12

May-12

Dec-12

May-13

Mar-13

Apr-12

Apr-13

Nov-12

Sources: Alaqstad Alswry, Aliqtisadi, Central Bank of Syria, and Syria News. Prepared by: Prof. Steve H. Hanke, The Johns Hopkins University. Note: For purposes of illustrating the declining value of the Syrian pound, relative to the U.S. dollar, the y-axis is inverted.

Aug-13

Oct-12

Jun-12

Feb-12

Sep-12

Feb-13

Jun-13

Jan-13

Jul-12

Jul-13