WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

	Enter your search terms Submit search form
	Web www.wordnet-online.com

Definitions from WordNet

Definitions from the Web

Syrian Monetary Unit

Definition:

The Syrian Monetary Unit refers to the official currency used in Syria.

Senses:

1. Currency

In its primary sense, the Syrian Monetary Unit denotes the official form of money used in Syria, consisting of banknotes and coins issued by the Central Bank of Syria.

Example: The Syrian Monetary Unit is the Syrian Pound (SYP).

Related Products: Search on Amazon

Usage:

1. International Trade

In the context of international trade, the Syrian Monetary Unit is often required for conducting transactions between Syrian and foreign businesses.

Example: The exporter requested payment in the Syrian Monetary Unit for the imported goods.

2. Exchange Rates

The value of the Syrian Monetary Unit can fluctuate in relation to other currencies, and exchange rates are used to determine its value against different foreign currencies.

Example: The exchange rate of the Syrian Monetary Unit against the US Dollar has been increasing steadily.

Related Products: Search on Amazon

3. Local Transactions

Within Syria, the Syrian Monetary Unit is used for day-to-day transactions among individuals, businesses, and local markets.

Example: Can I pay in the Syrian Monetary Unit for this local souvenir?

4. Financial Planning

When managing personal finances or planning monetary goals, the Syrian Monetary Unit plays a vital role for individuals residing in Syria.

Example: They upgraded their financial software to accommodate tracking the Syrian Monetary Unit.

Related Products: Search on Amazon

5. Monetary Policies

The Syrian Monetary Unit is subject to monetary policies implemented by the Central Bank of Syria to regulate the country's economy, money supply, and inflation rates.

Example: The Central Bank of Syria announced a decrease in interest rates affecting the Syrian Monetary Unit.

Related Products: Search on Amazon