the value of the syrian pound plunged monday to nearly 10000 against the dollar on the black market websites monitoring the exchange rate said following years of conflict and crippling sanctions the embattled currency stood at just 47 pounds to the dollar before syrias civil war broke out in 2011 the conflict has since killed more than 500000 people displaced millions and battered the countrys infrastructure and industry the pound hit a new record low of 9750 to the dollar monday according to the unofficial exchange rate monitoring sites which traders use to determine the price of goods the official exchange rate approved by the central bank is 6532 pounds to the dollar damascus has blamed the countrys economic woes on western sanctions and the knockon effects of an economic collapse in neighbouring lebanon that has stemmed the flow of dollars into governmentheld areas the new plunge comes in the wake of syrias recent return to the arab fold after years of isolation and as damascus hopes wealthy gulf countries could help fund reconstruction the war has not ended yet and the reasons for the drop in the pounds value have not changed said economist ammar yussef pointing to ongoing sanctions blocking exports the arab opening towards damascus hasnt started to have an impact yet particularly as it hasnt been accompanied by concrete economic steps he added the pounds collapse  from 5000 to the dollar in october  has driven up the price of basic goods and aggravated hardship in a warravaged country hit by crippling shortages of fuel and electricity an average monthly salary of 130000 pounds according to figures reported in syrian media is now worth little over 13 the united nations says some 90 percent of the population is poor while the un world food programme estimates that more than 12 million people in the country are food insecure