Mideast in Pictures: Syria begins circulating new banknotes, citing need to stabilize economy

Xinhua
05 Jan 2026, 18:15 GMT+10

DAMASCUS, Jan. 5 (Xinhua) -- New Syrian pound banknotes began circulating this week, as authorities launched a currency reform they say is aimed at stabilizing the country's battered economy.

The Central Bank of Syria issued guidelines last month for introducing the new currency, confirming plans to remove two zeros from the Syrian pound as part of a broader monetary overhaul scheduled for 2026.

Under the reform, every 100 old pounds will be exchanged for one new pound, Central Bank Governor Abdulkader Husrieh said. The exchange process began at the beginning of the new year and runs for 90 days, with the possibility of an extension.

Husrieh said the measure amounts to a direct replacement of the currency and will not increase the money supply, calling it a key step toward maintaining price stability during the transition.

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