Syria
Money
The currency of Syria is the Syrian Pound (SYP); although prices may be set in US Dollars (USD) (for example, COVID-19 PCR tests) regime authorities have warned against carrying or using currencies other than the Syrian Pound, and penalties are severe. There are four official exchange rates for SYP to the dollar; it is difficult to access USD in Syria.
As a result of the ongoing conflict there have been a number of restrictions placed on financial transactions in Syria. Some of these restrictions are the decision of the Syrian regime, while others are the result of international businesses and banks being unwilling to invest or trade with Syria in the current environment.
Since 2011, Syria has been subject to financial sanctions put in place by the European Union (EU) and, therefore, imposed by the UK as a member of the EU. The UK’s own sanctions regime on Syria came into force at 11pm on 31 December 2020 with substantially the same effect as the EU legislation. For more information, please visit the website of the Office of Financial Sanctions Implementation, HM Treasury and this page on UK sanctions on Syria.
Economic situation
Syria is suffering a severe economic crisis, and it is often difficult to obtain or pay for basic goods and services, including essential foodstuffs and fuel. As of mid-2020, the value of the Syrian Pound has fallen rapidly against the US Dollar. Prices have increased accordingly.