Syria’s Assad Looks Weaker as Currency Slides and Army Fractures

Syrian President Bashar al-Assad speaks with Syrian troops during his visit to the front line in the eastern Damascus district of Jobar, Syria, Dec. 31, 2014 (AP Photo/SANA).
Syrian President Bashar al-Assad speaks with Syrian troops during his visit to the front line in the eastern Damascus district of Jobar, Syria, Dec. 31, 2014 (AP Photo/SANA).

Last week, the value of Syria’s currency hit a record low against the dollar. On the black market in Damascus, dealers told Reuters, a dollar cost as much as 315 Syrian pounds. That wasn’t even as bad as other parts of Syria, where the currency traded for as much as 328 pounds to a dollar—a precipitous spike since the start of the year, when the rate hung around 220 pounds to the dollar. In 2011, when the uprising against Syrian President Bashar al-Assad began, it was around 47 pounds. The collapsing currency was the latest sign of the Assad regime’s […]

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