Paralysis in Al-Hasakah’s markets as the currency exchange crisis worsens and citizens continue to be exploited

Yekiti Media

The crisis surrounding the exchange of old Syrian pound banknotes has imposed exceptional circumstances on the city of Al-Hasakah, having had a direct impact on commercial activity and the movement of citizens, amidst the closure of a large number of shops, and unprecedented crowds gathering outside the sole post office designated for exchange operations, leading to more than ten cases of suffocation and injuries resulting from the crush.

Abu Ahmad, a grocer, explained in an interview with Yekiti Media that he had chosen to close his shop early this morning, after the exchange rate for the US dollar had exceeded 17,500 old Syrian pounds.

He added that sales are conducted in the old currency, whilst currency exchange firms force him to buy dollars at a much higher rate when paid in this denomination, compared to those paying with the new currency, which causes him to incur direct losses.

He also pointed out that going to the post office is not a practical option due to the severe congestion, as he cannot leave his shop closed for hours; he has therefore decided to suspend sales temporarily until it becomes clear how to deal with the crisis.

He considered that what is happening constitutes a clear exploitation of citizens, calling on the relevant authorities to intervene to regulate currency exchange companies and impose genuine oversight on them, emphasising that the lack of accountability has encouraged the continuation of these practices.

Although the Central Bank of Syria has announced an extension of the deadline for exchanging old banknotes until the 6th of this month, the city of Al-Hasakah continues to rely solely on the post office to carry out exchange transactions, given the limited quantities of the new currency available, which is exacerbating the suffering of residents and deepening the turmoil that has gripped the markets since the start of the crisis