As pound hits new historic low, locals pursue US dollars in Homs ...Syria

News by : (ُEnabbaladi) -
In front of one of the farms in the northern countryside of Homs, cars gather, and people sit in a large guest house, each of them beside him cardboard boxes or black bags containing sums of money from the Syrian pound. One by one, owners of bags of Syrian pounds enter Abu Jawad’s office to buy US dollars. After converting boxes of pounds into stacks of dollars, smiling men emerge from the guest house, which has been turned into a currency exchange office. The details of the currency conversion that takes place inside the guest house are not important to those waiting. The risks of legally owning foreign currency in Syria prompt people to turn a blind eye to the exchange rate differe

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