One year after the collapse of Bashar al-Assad’s government, Syria has officially begun circulating new currency bills as part of a major effort to stabilize its war-battered economy.
The transition, which commenced on Saturday, January 3, 2026, was initiated by a decree from President Ahmad al-Sharaa aimed at modernizing the financial system and curbing the hyperinflation that plagued the nation for over a decade.
The new monetary policy introduces a significant redenomination of the Syrian pound. According to the Central Bank of Syria. Two zeros have been stripped from the nominal value of the old currency. Every 100 old Syrian pounds is now equal to 1 new Syrian pound. The largest banknote under the new system is the 500-pound bill, replacing the old 5,000-pound note.
Central Bank Governor Mokhles Nazer confirmed that the exchange of old banknotes—many of which still bear the images of Bashar and Hafez al-Assad—officially started Saturday morning. The old currency will be gradually withdrawn through a scheduled timetable managed by designated exchange centers across the country.
