Shafaq News/ Turkiye has expressed willingness to assist the new Syrianauthorities in printing banknotes, Turkish Minister of Transport andInfrastructure Abdulkadir Uraloğlu said on Tuesday.
“Syria's current banknotes are printed abroad, and Turkiye is preparedto provide support in this area. Efforts have commenced in coordination withthe Turkish Ministry of Foreign Affairs and the National IntelligenceOrganization,” Uraloğlu was quoted as saying by Turkish media.
The Syrian pound (lira) remains the official currency in Syria, issuedby the Central Bank, and is available in both paper and coin forms. Key paperdenominations include 50, 100, 200, 500, 1,000, 2,000, and 5,000 Syrian pounds.
Notably, the 1,000-pound note features an image of former PresidentHafez al-Assad, while the 2,000-pound note bears an image of President Basharal-Assad.
Smaller coin denominations, ranging from 1 to 50 pounds, are rare in circulationdue to inflation and the declining purchasing power of the Syrian pound.Additionally, the Turkish lira is widely used in several Syrian cities.
Following the collapse of the Assad family’s five-decade rule, therehave been growing calls to replace Syria’s current currency, particularly notesfeaturing the images of Hafez and Bashar al-Assad.
Replacing a national currency involves multiple steps, includingdesigning new notes, selecting symbols and materials, obtaining governmentapproval, and managing the printing process.
Economic experts note that integrating a new currency requires stablegovernance, economic reforms, and financial resources to cover production costswhile controlling inflation.
The introduction of a new currency also necessitates legal frameworks toenforce its use and regulate exchange mechanisms with the older currency.
In a sign of economic improvement following the fall of the Al-Assadregime, the Syrian pound has strengthened significantly against the US dollar.
On Wednesday, the dollar was trading at 13,500 pounds for purchase, downfrom 13,800 pounds the previous day, according to the SP-Today platform, whichtracks parallel market rates in Damascus and Aleppo.
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