Aleppo-based institutions adopt Turkish lira

ALEPPO, Syria 

Some local institutions in opposition-held parts of Syria’s northwestern Aleppo province have begun using the Turkish lira -- instead of the Syrian pound -- as their chief means of exchange, according to the pro-opposition Local Council of Aleppo City.

On Tuesday, the council told Anadolu Agency that it, along with a handful of other pro-opposition institutions, had begun conducting transactions using Turkish currency.

According to the council, other Aleppo-based institutions to have recently adopted the Turkish lira include Aleppo’s Sharia Court, the Free Lawyers of Aleppo group and the Union of Media Professionals.

Over the course of Syria’s civil conflict, now in its fifth year, the Syrian currency has swiftly decreased in value.

When the conflict began in March of 2011, the Syrian pound stood at 47 to the U.S. dollar. As of Tuesday, one dollar was worth 189 Syrian pounds.

The Turkish lira has also seen recent declines in value, falling from 1.67 to the dollar to 2.70 over the same period. Nevertheless, it remains considerably more stable than its Syrian counterpart.

“Using Turkish currency will benefit local residents because it’s less volatile,” said Aleppo tradesman Rashid Tahvali.

Syria has been gripped by violence since the regime of President Bashar al-Assad launched a violent crackdown on anti-government demonstrations that erupted in early 2011 as part of the “Arab Spring” uprisings.

The crackdown quickly triggered a civil war in which more than 220,000 people have since been killed in fighting between pro-regime forces and heavily-armed opposition groups, according to UN figures.