This research contains two part; The first is about theoretical part of Variables Affecting Exchange Rate of Foreign Currencies Pass – Through on inflation rate in Syria. The second is statistic part since this research proposes and estimates a model to determine the effect of the exchange rate for the Syrian Pound (SYP) vs US Dollar (USD) Pass – Through on inflation rate in Syria. This research used monthly data for the period of 2000 to April 2013. This research employed the unit root test and Causality Test by using E-Views statistic program.