5 Worst Performing Currencies in Asia

2. Syrian Pound

Price Against 1 USD on January 2, 2023: 2512 

Price Against 1 USD on September 20, 2023: 13001

Percentage Decline in Price in 2023: 417%

The Syrian Pound is the official currency of Syria, a Middle Eastern country. The country has been at war for most of the last decade. In addition to the war, some of the other reasons plaguing the currency of the country include Western sanctions on trade with the Assad government, the impact of worsening economic conditions in neighboring Lebanon, and the loss of oil-rich northern parts of Syria in the war have all combined to push the currency further down. Rising energy and food prices, and the weakening of the Russian economy, which is closely linked to Syria, are also factors in the devaluation.