On 13 January 2020, the currency deteriorated further, as more than 1000 SYP was traded for US$1 in the black market, while the official rate continued to be 434 SYP.[16] During the COVID-19 pandemic in Syria, the Syrian pound continued to fall against the U.S. dollar in the black market, where US$1 equaled more than 1600 SYP in May 2020.[17] A month later, the Syrian pound passed 2000 against the dollar,[18][19] and a few days later, it passed 3000 against the dollar. It went back to the exchange rate of around 2500 and still haven't reached 3000 until early 2021. [20]