The Syrian Pound exchange rate has undergone a more than 70-fold depreciation since the onset of hostilities in 2011. This decline has accelerated since late 2019, after the start of Lebanon’s currency crisis.
The devaluation is felt by communities and families who have witnessed additional increases in the prices of basic commodities, including food, water and fuel. The crisis in Ukraine has upended the markets for food and energy, contributing to the falling of standards of living.