Syria: Launch of a new currency and 90 days to adapt to it
Syria: Launch of a new currency and 90 days to adapt to it
2025-12-28 04:39
Shafaq News – Baghdad
The Governor of the Central Bank of Syria, Abdul Qader al-Hasriya, announced on Sunday the launch of the new Syrian currency as part of a comprehensive economic reform strategy, which includes removing two zeros from the current currency, with a 90-day coexistence period between the two currencies that can be extended, under the direct supervision of the Central Bank.
Al-Hasri said during a press conference held at the bank’s building in Damascus, which was attended by Shafaq News Agency, that launching the new currency is not a mere formality but a pivotal step towards consolidating confidence in national institutions and achieving sustainable economic stability.
He explained that the exchange standard stipulates that every 100 current Syrian pounds will be equivalent to one Syrian pound of the new currency, indicating that the exchange process is completely free, and that imposing any commissions, fees or taxes is prohibited, stressing the commitment of all public and private entities to apply the exchange standard to prices, salaries, wages and financial obligations.
He added that all bank balances from the beginning of next year will be in the new Syrian pound, noting that the adopted economic strategy is based on five pillars, including achieving monetary stability, establishing a stable and transparent exchange market, building fair and effective financial institutions, promoting safe digital transformation, and developing balanced international economic relations.
He also pointed out that the replacement decree stipulated that the process would be carried out only within Syrian territory, with the issuance of official bulletins for the exchange rates in both currencies to prevent speculation, noting cooperation with major international companies to print the currency and prevent counterfeiting, and working on developing payment systems and temporary solutions for electronic payment.
shafaq.com
