Damascus: Following the lifting of sanctions, the value of the Syrian lira rose by 20% against the dollar. The exchange rate of the US dollar in Damascus reached 8,600 Syrian liras per dollar on Wednesday, marking a significant increase from yesterday’s rate of 10,500 Syrian liras per dollar. This development marks a 30% rise in the value of the lira since last Monday, when one dollar was valued at more than 12,000 Syrian liras.

According to National Iraqi News Agency, this rise in the value of the Syrian lira comes after US President Donald Trump announced the end of sanctions imposed on Syria during a visit to Saudi Arabia. The announcement was made on Tuesday evening and has since influenced not only Syrian markets but also the markets in the Kurdistan Region.

Prior to Trump’s announcement, the price of one million Syrian liras was 145,000 dinars in the Kurdistan Region. However, by late Tuesday night, this figure had surged to 203,000 dinars in trading groups. On Monday, the price of one million Syrian liras was recorded at 133,000 dinars.