Investopedia

Continue to Site »

SYP (Syrian Pound)

Filed Under » , , , ,
Dictionary Says

Definition of 'SYP (Syrian Pound)'

The currency abbreviation for the Syrian pound (SYP), the currency for Syria. The Syrian pound is made up of 100 qirsch (Arabic), or piastre (English/French), although because of inflation, qirsch is no longer used.
Investopedia Says

Investopedia explains 'SYP (Syrian Pound)'

The Syrian pound was introduced in 1919 to replace the Turkish lira. This initial pound was pegged to the French franc at a rate of 20 francs to 1 pound, until 1941 when the peg changed to the British pound at a rate of 8.83125 Syrian pounds to 1 British pound.

Over the years, the peg has changed a number of times:
  • 1946: 1 Syrian pound = 54.35 French francs
  • 1947: 2.19148 Syrian pounds = 1 U.S. dollar
From 1961 onward, a series of official exchange rates ran parallel to fluctuating market rates, which diverged greatly.

Articles Of Interest

  1.

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.

  2. The Yen Is Setting Up To Be An Attractive Long-Term Investment

    As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013?

  3. Why It's Important To Regulate Foreign Exchange

    In an increasingly globalized economy, the significance of the foreign exchange marketplace cannot be underestimated.

  4. Forex Market Sentiment Indicators

    Sentiment Indicators are another tool that can alert traders to extreme conditions.

  5. 3 Costly Spelling Errors

    History has proved that some spelling errors can cost companies and governments millions of dollars.

  6. America's Loss Is The Currency Market's Gain

    The Smithsonian Agreement hurt the U.S. in the short-term, but was necessary in furthering real market-driven exchange rates.

  7. A Primer On Currency Regimes

    Currency regimes are dynamic and complex, reflecting the ever-changing landscape of their respective nations' monetary and fiscal policies.

  8. The Greatest Currency Trades Ever Made

    These speculators took big positions - and scored huge profits - in the currency market.

  9. The Most Counterfeit-Proof Currencies

    The IACA awards provide some of the best insight into the currencies that are proving the most difficult to fake.

  10. Behind The Euro: History And Future

    The euro was designed to create economic parity among eurozone nations. Discover where it's going and where it's been.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  2. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  3. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  4. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  5. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  6. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
Trading Center