Syria introduces new currency, removes Assad family images
Syria has introduced new banknotes that remove images of the al-Assad family and eliminate two zeros from the currency, as the country’s new authorities seek to simplify transactions and restore confidence in the battered Syrian pound after more than a decade of war.
The redesigned currency entered circulation on January 1, replacing older notes that featured former president Bashar al-Assad and his family. Officials say the move is part of a broader effort to stabilise the economy, modernise payment systems and rebrand the state, News.Az reports, citing Al Jazeera.
The reform includes a redenomination, removing two zeros from the pound to make everyday transactions easier. Authorities stressed that the change does not alter the currency’s real value, but is aimed at reducing inflationary pressures and improving usability.
Syria’s economy has been severely weakened by nearly 14 years of civil war, with inflation reaching triple digits and foreign currency reserves sharply depleted. By late 2025, Syria’s central bank reportedly held about $200 million in reserves, down from $17 billion in 2010.
Before the redenomination, the Syrian pound had fallen from around 50 per US dollar in 2011 to nearly 11,000, forcing citizens to carry large amounts of cash even for basic purchases.
The new banknotes, ranging from 10 to 500 Syrian pounds, feature agricultural and
national symbols such as roses, wheat, olives and citrus fruits, reflecting what officials describe as a new national identity.
Syrian leader Ahmed al-Sharaa said the currency reform marks “the end of a previous phase and the beginning of a new one,” adding that the design moves away from the veneration of individuals.
Many Syrians welcomed the change. “It is ridiculous to see the former president’s image on our money,” said Damascus resident Muhammad Zaar, calling the move long overdue.
The currency reform comes amid signs of economic reopening. The United States has permanently lifted Caesar sanctions, paving the way for renewed foreign investment, while Gulf countries such as Qatar and Saudi Arabia have pledged billions of dollars in financial support.
Analysts say restoring confidence in the currency remains one of Syria’s biggest challenges, alongside ongoing security concerns, but the new banknotes signal a symbolic and practical step toward economic recovery.
Similar news
