Governor of Syria’s Central Bank: New currency to be approved at the start of 2026.

December 26, 2025
libyawire
Economy
0

The Governor of the Central Bank of Syria announced on Thursday that the beginning of next year is the date set for starting to replace the old currency with a new one, according to a post on his official Facebook page.

The post stated, “January 1, 2026, is the date to begin the replacement process. The executive instructions regulating it will be issued.”

A presidential decree related to issuing the new Syrian currency granted powers to the central bank “to determine the deadlines and centers for the exchange,” according to the governor’s post. He confirmed that executive instructions and an explanation of the mechanisms will be issued at a press conference he will hold next Sunday.

Printing Six New Denominations
In August, it was revealed that the country intends to replace the currently circulating banknotes with new ones, removing two zeros from them. It was explained that six new denominations would be printed from various sources.

Improving the exchange rate of the lira is one of the most prominent financial challenges in Syria after the ousting of former President Bashar al-Assad’s rule on December 8.

Before the conflict erupted in 2011, the dollar was worth about fifty lira, before the currency gradually collapsed and lost more than 90% of its value.

Syrians are forced to carry large quantities of banknotes in their bags or in plastic bags to meet their needs. The five-thousand denomination is currently the highest in circulation in the market.

Logistical Reasons and Meeting Demand
According to the governor, the central bank intends to print six new denominations, explaining that for logistical reasons and to meet demand, the printing will be done at two or three sources.

Following the outbreak of the conflict and under the economic sanctions that were imposed on the former government, Syrian banknotes were printed exclusively in Russia, which was an ally of Assad and where he sought refuge as opposition factions advanced towards Damascus late last year.

Recently, the exchange rate has ranged between 10,000 and 11,000 against the dollar, while it had ranged around the level of 15,000 in the months preceding Assad’s fall.

Central Bank of Syria

The Central Bank of Syria is the country’s primary monetary authority, established in 1953 and headquartered in Damascus. It is responsible for issuing the Syrian pound and managing the nation’s monetary policy, but its operations have been severely impacted by international sanctions and the ongoing Syrian civil war.

Syria

Syria is a country in the Middle East with a rich history as a cradle of civilization, home to ancient cities like Damascus, one of the world’s oldest continuously inhabited cities. Its historical landscape includes significant archaeological sites from various empires, such as the ruins of Palmyra and the Crusader castle Krak des Chevaliers. In recent decades, the country has been severely impacted by a complex and ongoing civil war that began in 2011.

Damascus

Damascus is the capital of Syria and one of the oldest continuously inhabited cities in the world, with evidence of settlement dating back to the third millennium BCE. It served as a major cultural and commercial center, notably as the capital of the Umayyad Caliphate in the 7th and 8th centuries, and is home to significant historical sites like the Umayyad Mosque.

Russia

Russia is the world’s largest country by area, spanning Eastern Europe and Northern Asia. Its history is marked by the rule of the Tsars, the rise and fall of the Soviet Union in the 20th century, and its establishment as the modern Russian Federation in 1991. It is renowned for its vast landscapes, rich cultural heritage in literature, music, and art, and iconic sites like the Kremlin and Red Square in Moscow.