The exchange rate of the Syrian pound against the US dollar declined slightly in the black market this Monday in Syrian provinces, while the Central Bank of Syria continued to fix the rate in bank transactions.
Syrian Pound Exchange Rate Against the Dollar in the Black Market
- The exchange rate of the pound in Damascus and Idlib fell to 11,780 pounds for purchase from the level of 11,700 pounds recorded yesterday evening, while the selling price dropped to 11,830 pounds from 11,750 pounds.
- The exchange rate of the pound in Aleppo fell to 11,850 pounds from 11,750 for purchase and also declined to 11,900 pounds for sale from the level of 11,800 pounds.
Syrian Pound Exchange Rate Against the Dollar in Bank Transactions
The Central Bank of Syria is fixing the exchange rate of the Syrian pound against the US dollar at 11,000 pounds for purchase and 11,110 pounds for sale.
The New Syrian Pound
In a related context, it was announced last Thursday that the country will begin a process to replace current banknotes with new ones starting January 1, 2026, as part of a plan to phase out currencies issued during the Assad era.
The move aims to support the Syrian pound after its purchasing power collapsed to record lows following 14 years of conflict that ended with the overthrow of the Assad regime in December 2024.
Yesterday, the bank announced the regulations that citizens and dealers must follow when presenting old Syrian pound banknotes to authorized entities for exchange with the new banknotes, which included:
- Adhering to the correct arrangement of banknotes in bundles, where each bundle contains notes of the same denomination and the same issue, and the number of pieces in each bundle should not exceed 100 banknotes.
- Arranging the banknotes symmetrically so that the face is upwards in all bundles, while damaged banknotes must be sorted into separate bundles according to the same regulations, with proof provided that they are damaged.
- The exchange will be conducted through 59 financial institutions with more than 1,500 designated branches.
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 3rd 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.
Syria
Syria is a country in the Middle East with a rich history as a cradle of ancient civilizations, including the influential city-states of Ebla and Ugarit and the great Umayyad Caliphate based in Damascus. Its cultural landscape features renowned historical sites like the ancient city of Palmyra and the old city of Aleppo, though many have suffered significant damage during the ongoing Syrian Civil War that began in 2011.
Central Bank of Syria
The Central Bank of Syria, established in 1953, serves as the country’s primary monetary authority and issuer of the Syrian pound. Its modern history has been heavily defined by its role in managing the economy through decades of state control, international sanctions, and the severe financial crisis following the Syrian Civil War.
Idlib
Idlib is a city in northwestern Syria, historically known as an ancient settlement with nearby tells like Ebla, a major Bronze Age kingdom. In modern times, it has been a significant agricultural center but has become widely known as the last major opposition stronghold during the Syrian Civil War, leading to extensive conflict and humanitarian crisis in the region.
Aleppo
Aleppo is one of the world’s oldest continuously inhabited cities, located in modern-day Syria. Historically a major trading hub on the Silk Road, its iconic Citadel and ancient souk are UNESCO World Heritage sites, though they have suffered significant damage during the Syrian civil war.
Moscow
Moscow is the capital and largest city of Russia, with a history dating back to its first recorded mention in 1147. It grew around the Moscow Kremlin, a historic fortress that became the political and cultural heart of the Russian state, surviving invasions and serving as the center of power for the Tsardom, the Soviet Union, and the modern Russian Federation.
Arab Spring
The Arab Spring refers to a series of anti-government protests, uprisings, and armed rebellions that spread across much of the Arab world beginning in late 2010. It was sparked by the self-immolation of Tunisian street vendor Mohamed Bouazizi and led to the overthrow of several long-standing authoritarian regimes, while also triggering violent conflicts and civil wars in other nations.
