Damascus, Dec. 28 (SANA)
Syria’s central bank on Sunday announced the executive instructions for introducing a new Syrian currency, launching a monetary reform that includes removing two zeros from the pound and allowing a 90-day period of dual circulation.
The announcement was made during a press conference at the Central Bank of Syria headquarters in Damascus, where Governor Abdulkader Husrieh said the step is part of a comprehensive institutional strategy aimed at restoring confidence and achieving sustainable economic stability.
“The launch of the new currency is not a formal measure, but a pivotal milestone within a comprehensive strategy based on solid institutional foundations,” Husrieh said.
90 days transition period
Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian pound. The old and new currencies will circulate together for 90 days, a period that may be extended. All bank balances will be converted to the new currency at the beginning of next year, while the overall money supply will be maintained without increase or reduction.
Husrieh said the economic strategy is based on five pillars: monetary stability, a stable and transparent foreign-exchange market, effective and accountable financial institutions, secure digital transformation, and balanced international economic relations. He said this requires updating financial laws and regulations, improving data systems, keeping pace with global digital developments, and ensuring sustainable financing and training for the financial sector.
Free exchange and market oversight
The currency exchange will be carried out free of charge, with a ban on any commissions, fees, or taxes. All public and private entities are required to apply the official conversion standard to prices, salaries, wages, and financial obligations. Official exchange-rate bulletins will be issued in both currencies to ensure transparency and prevent speculation.
The governor said the central bank is closely monitoring markets to stabilize the exchange rate and will supply Syrian pounds if demand rises against foreign currency, adding that citizens will feel the impact more clearly after the exchange process is completed.
“Our policy is financial discipline, with no room for inflation,” Husrieh said.He confirmed that the decree regulating the exchange limits the process to Syrian territory and said the measures fall within the central bank’s 2026–2030 strategy to align with international standards. The new banknotes, he added, are being printed by leading international companies to prevent counterfeiting.
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