External Content

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

An Islamic State flag is seen in this picture illustration taken February 18, 2016. REUTERS/Dado Ruvic/Illustration/File Photo

(reuters_tickers)

BEIRUT/CAIRO (Reuters) - Islamic State ordered shopkeepers and traders to price goods in its currency, the dirham, as of Tuesday and set the value at 1,000 Syrian pounds (1.41 pounds) per dirham, seeking to steer its own monetary policy even as its territorial grip is shaken.

The announcement, circulated in an audio statement on Islamic State-run messaging platforms, said two Syrian banknotes - the 1,000 pound note and 50 pound note - would be banned in the areas it controls as of July 25.

The militant group has lost swathes of territory in Syria and Iraq, and is under siege in its de facto Syrian capital at Raqqa as U.S.-backed forces press an assault to capture the city. It is also on the brink of defeat in the Iraqi city of Mosul.

The group is believed to have moved its leadership to the Syrian town of al-Mayadeen, southeast of Raqqa, close to the Iraqi border in Deir al-Zor province.

The IS decree made no mention of a ban on the 500 Syrian pound note. It said exchange rates for the IS currency would be declared on a daily basis. Islamic State declared the launch of its own currency in 2015.

(This story was refiled to remove extraneous word in headline)

(Reporting by Omar Fahmy in Cairo; Writing by Tom Perry Editing by Jeremy Gaunt)

Neuer Inhalt

Horizontal Line


subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters

swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!

Reuters