Damascus — SYR
Damascus, April 4, 2018 Agence France Presse: The Syrian pound has appreciated around 10 percent against the US dollar in recent days, as rebel fighters quit their final stronghold of Eastern Ghouta on the edges of the capital.
The unofficial exchange rate in the capital was at 430 Syrian pounds per dollar on Wednesday, compared with 460 pounds the previous week.
When Syria’s conflict first erupted in 2011, the currency was valued at 48 Syrian pounds per dollar but it has depreciated dramatically since then.
The pound hit its highest value in years on Monday morning, according to the Al-Watan Syrian daily, reaching 405 pounds per dollar just as a new deal for Eastern Ghouta began to be implemented.
The official exchange rate is still at 436 pounds per dollar.
On Monday, rebels and civilians began evacuating the town of Douma, the final opposition-held pocket of the Ghouta enclave.
Rebel fighters had held Ghouta since 2012, and recapturing it will mark a major victory for Syrian President Bashar Assad.
“The psychological factor has no doubt tipped the balance, especially in light of the most recent deal reached in Ghouta,” Syrian economic analyst Firas Haddad told AFP.
The pull-outs came under a deal announced Friday between regime backer Russia and rebel group Jaish Al-Islam, which controls Douma.
The first evacuations saw 1,100 people leave Douma for the opposition-held town of Jarabulus in northern Syria, and another 1,200 were bussed out the following day.
Evacuations were under way for a third day on Wednesday, according to Syrian state media.
Government troops have recaptured more than 95 percent of Ghouta after a weeks-long bombing blitz and three sets of negotiated withdrawals.
Syrian pound soars as regime nears Ghouta takeover
Syrian pound soars as regime nears Ghouta takeover
- Before 2011 the Syrian currency was valued at 48 Syrian pounds per dollar, now it is 460 pounds per dollar
Saudi POS spending jumps 28% in final week of Jan: SAMA
RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors.
POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity.
Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million.
Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million.
Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million.
Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week.
The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week.
In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
