Syria received a new shipment of local currency printed in Russia on Wednesday, marking the second such delivery since the previous regime's ousting in December. More shipments are expected, a Syrian government official said. The cash, flown into Damascus and transported to the central bank, is crucial as the country grapples with a severe currency shortage. Syria has relied on Russia for currency printing since European sanctions ended a previous contract with an Austrian firm. The arrangement appears to be continuing, with past shipments reaching hundreds of billions of Syrian pounds monthly. The cash crunch has left depositors struggling, businesses under pressure, and a planned 400 per cent public-sector salary increase stalled. The Syrian pound, which strengthened on the black market post-Assad, traded at around 10,000 per dollar on Thursday, compared to an official rate of 13,000. The central bank, with only $200 million in reserves, faces mounting challenges in stabilising the war-torn economy. Attribution: Reuters Subediting: M. S. Salama
