Syrian pound hits record low ahead of new U.S. sanctions: dealers

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Syrian pound hits record low ahead of new U.S. sanctions: dealers
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The Syrian pound sank to a new record low on Monday as investors scrambled for dollars ahead of new U.S. sanctions later this month, which many fear will tighten the noose around President Bashar al Assad's government, dealers and bankers said.

AMMAN - The Syrian pound sank to a new record low on Monday as investors scrambled for dollars ahead of new U.S. sanctions later this month, which many fear will tighten the noose around President Bashar al Assad’s government, dealers and bankers said.

Dealers said investors and businessmen were rattled by tougher U.S. sanctions expected later this month, which they fear will worsen the country’s dire economic plight aggravated by years of Western sanctions and a devastating conflict. They fear tightening penalties on entities and individuals who do business with Syria would dim prospects for an inflow of capital from abroad crucial for post-war reconstruction.

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