Newly redesigned banknotes have entered circulation across Syria, replacing currency that once carried images of ousted ruler Bashar al‑Assad and his family.
The rollout, which began January 1, is part of a broader effort by the transitional government to stabilise the economy and restore confidence in the Syrian pound after more than a decade of war.
The new notes, ranging from 10 to 500 pounds, feature agricultural symbols such as roses, wheat, olives, and oranges, reflecting Syria’s cultural and economic heritage. Officials say the redesign represents a deliberate break from the past.
“The new currency design is an expression of the new national identity and a move away from the veneration of individuals,” Syrian leader Ahmed al‑Sharaa said at the unveiling.
“It marks the end of a previous, unlamented phase and the beginning of a new phase that the Syrian people aspire to.”
As part of the reform, authorities removed two zeros from the old currency in a process known as redenomination. The measure does not alter the pound’s actual value but is intended to simplify transactions and reduce the burden of carrying large bundles of cash.
Before the change, the pound had plunged from about 50 to the dollar in 2011 to nearly 11,000 by late 2025, reflecting years of hyperinflation.
The Central Bank of Syria’s foreign reserves had dwindled to just $200 million, compared to $17 billion in 2010, underscoring the scale of the economic collapse.
Public Reaction
Many Syrians welcomed the removal of Assad’s image from the currency. Damascus resident Muhammad Zaar told journalists: “At least we get rid of this previous president. It is ridiculous to see his picture on our money.”
The redesign was intended to support recovery and signal a political break from the past. “What a country prints on its currency says a lot about what it wants to be,” he said.
The rollout coincides with signs of renewed global support.
The United States has permanently lifted the Caesar sanctions, opening the door to foreign investment. Gulf states including Qatar and Saudi Arabia have pledged billions of dollars in financial aid, offering a lifeline to the war‑ravaged economy.
Assad was forced from power in late 2024 after years of mounting political, economic, and social pressure. What began as peaceful protests in 2011 escalated into a civil war that fractured the country, devastated infrastructure, and displaced millions.
His regime weakened under sanctions, war costs, and hyperinflation, while public resentment grew over poverty and insecurity.
Sustained opposition, elite defections, and shifting regional dynamics eventually ended his decades‑long rule, paving the way for a transitional government now seeking to rebuild Syria and redefine its national identity.
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