Syrian pound
Since the start of the Syrian Civil War in 2011, there has been a capital flight to nearby countries. Syria has been subject to sanctions by United States, Canada, European Union, Arab League and Turkey because of the civil war. The currency of Syria is the Syrian pound (SYP). The pound's official exchange rate has deteriorated significantly, falling from 47 SYP for US$1 before the civil war to 1256 as in June 2020. On another hand, while its exchange rate for money transfer is 1250 SYP for US$1, its non-official exchange rate (black market) plunged to around 4000 SYP for US$1 in March 2021.