Key Highlights:

• On 6 February, a catastrophic and magnitude 7.7 earthquake impacted northwestern governorates in Syria. The earthquake which was sequenced with several aftershocks, had devastating impacts for Syrians living in Aleppo, Idleb, Hama, Latakia and Tartous. Initial assessments following the earthquake indicate severe damage to agriculture, including crops, livestock, fisheries and aquaculture, as well as rural infrastructure in affected areas. The earthquake-affected areas are vital for the Syria’s agricultural production and food security. The impact of the earthquake has compromised animal health in affected locations and has resulted in the destruction of critical agriculture infrastructure. The earthquake has resulted in a general rise in food prices and this can be attributed to damage to the main market in Lattakia, and to merchants being hesitant to transport items from Lattakia to other markets during the earthquake crisis. During this reporting period, there were also reports of the bridge between Shat-ha city and Al-Aziziya, Al-Rasif and Al-Jaid villages in Hama governorate being affected by the earthquake. This particular bridge is important since it is the shortest route or road for transportation of agricultural produce and inputs to and from the mentioned villages. 
• The Central Bank of Syria (CBS) officially announced a new floating exchange rate. Furthermore, following the aftermath of the earthquake, the Government of Syria issued a waiver allowing humanitarian organizations to use the new money transfer floating exchange rate. It is important to note that the official exchange rate remained at 4 522 SYP/USD.
•  The price of diesel fuel dropped slightly and this could be attributed to low demand during this reporting period. The average price of diesel fuel decreased 5 percent m-o-m reaching 126 783 SYP per 20 litre, across the monitored sites.