ALBAWABA- Syria’s transitional government unveiled a major currency redenomination, removing two zeros from the Syrian pound in an effort to simplify transactions and signal steps toward economic stabilization.
Under the plan, 100 old pounds will convert to one new pound, with redesigned banknotes ranging from 10 to 500 pounds set to enter circulation on January 1, 2026.
The new notes feature neutral imagery, roses, wheat, olives, and oranges, avoiding portraits of former leaders in a symbolic break from the Assad era. Central Bank Governor Abdelkader Husrieh confirmed that old and new currencies will circulate simultaneously during a transition period.
The redenomination comes as Syria grapples with the aftermath of Bashar al-Assad’s ouster in December 2024, ending decades of family rule and a brutal civil war that devastated the economy. Hyperinflation has pushed the pound to roughly 15,000 per U.S. dollar, worsened by sanctions, conflict, and mismanagement.
President Ahmed al-Sharaa’s administration frames the currency reform as a foundational step for broader economic recovery, including potential sanctions relief and international reconstruction support.
Officials caution that while the move simplifies payments and accounting, potentially boosting consumer confidence and trade, it will not automatically curb inflation or generate growth without increased production, job creation, and foreign investment.
