DAMASCUS, Syria (AP) — A new, 5,000 Syrian Lira bank note goes into circulation Sunday, the largest denomination in the country reeling from a decade of conflict and a crippling economic crisis. Trading that year at 47 liras to the dollar, it’s now officially up to trading at 1,250 liras to the dollar. On the black market, the dollar is trading at nearly double the official value. Syria’s Central Bureau of Statistics reported an average inflation rate of 200 percent in 2020 compared to 2019, with goods inflation reaching 300 percent. The Central Bank said that the new bank note was issued “to meet the need of the market, facilitate cash transactions and reduce their costs.”The newly-designed banknote bears on one side a photo of a solider saluting the Syrian flag.

Source: Egypt Independent January 25, 2021 08:26 UTC