This research aims to investigate the impact of fluctuations in the exchange rate of the Syrian pound on the general index of the prices of shares of companies listed in the Damascus Securities Exchange, and clarify the type of relationship between these fluctuations and general share price index,using the linear regression models simple and multiple, and vector autoregressive (VAR) model of error correction (VECM) and Granger causality to test the relationship between the exchange rate and the general share price index in the Damascus Securities Exchange for the period 2011-2015.