Syria introduces new currency with removed al-Assad family images

Syria Introduces New Banknotes with Redesigned Currency

The Central Bank of Syria has introduced new banknotes featuring redesigned currency, removing images of the Assad family and two zeros from the old denominations. The move aims to simplify transactions and regain trust in the Syrian pound, which has lost significant value over the past decade due to war.

The new banknotes, which range from 10 to 500 Syrian pounds, feature agricultural symbols such as roses, wheat, olives, and oranges. They were unveiled last week by Syrian leader Ahmed al-Sharaa, who stated that the new design marks “the end of a previous phase and the beginning of a new phase” for the country.

The redesign is part of a broader effort to stabilize and revitalize the economy, which has been struggling since the start of the civil war in 2011. The Syrian pound’s value had plummeted from around 50 dollars to about 11,000 dollars against the US dollar during this period.

According to an unnamed official, the Central Bank of Syria had just $200m in foreign exchange reserves at the end of 2025, compared to $17bn in 2010. The removal of two zeros from the old currencies is a process known as redenomination, which aims to simplify transactions and boost economic recovery.

The new banknotes entered circulation on January 1, and have been welcomed by some residents, including Muhammad Zaar, a Damascus resident who expressed his happiness with the change. Al Jazeera’s Ayman Oghanna reported that the move is aimed at rebranding the country and legitimizing its new government.

The Syrian authorities are also seeking to bring life back to their economy, which has been flatlining for nearly 14 years. The United States has announced its permanent lifting of the Caesar sanctions, paving the way for investments to return to Syria after years of economic isolation. Gulf Arab states have also made significant financial investments in the nation, creating an additional economic lifeline.

Source: Al Jazeera