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The Syrian pound (sign: LS or £S; Arabic: الليرة السورية al-līra as-sūriyya, French: livre syrienne; ISO code: SYP) is the currency of Syria and is issued by the Central Bank of Syria. The pound is subdivided into 100 qirsh (Arabic: قرش plural: قروش, qorush, piastres in English or French), although coins in qirsh are no longer issued. Before 1947, the word qirsh was spelled with the initial Arabic letter غ, after which the word began with ق. Until 1958, banknotes were issued with Arabic on the obverse and French on the reverse. After 1958, English has been used on the reverses, hence the three different names for this currency. Coins used both Arabic and French until Syrian independence, then only Arabic. The standard abbreviation for the Syrian pound is SYP. On 5 December 2005, the selling rate quoted by the Commercial Bank of Syria was 58.4 SYP to the US dollar. A rate of about 50 pounds to one dollar has been usual in the early 2000s, but the exchange rate is subject to fluctuations. The pound is not a hard currency, and there are restrictions on its export. |