Syria issues new banknotes without images of Assad family: what they look like
2 January 09:33
On January 1, the Syrian authorities began issuing new Syrian pound banknotes (also known as the Syrian lira): they do not have portraits of Bashar al-Assad, who served as president of the country since 2000 but was overthrown by rebels in December 2024. In addition, the older versions of the banknotes with the portrait of Bashar al-Assad’s father, Hafez al-Assad, who ruled the country in 1971-2000, will be replaced, "Komersant Ukrainian" reports citing DW.
The new banknotes, with denominations ranging from 10 to 500 pounds, were unveiled on December 29 by President Ahmed al-Sharaa. They depict roses, wheat, olives, oranges and other symbols that emphasize the country’s geographical and economic diversity. Two zeros have also been removed from the new banknotes, making the new pound equal to 100 of the old ones.
With the help of denomination, the authorities are seeking to restore confidence in the national currency, which has fallen from 50 to about 11 thousand pounds per US dollar since the beginning of the civil war in 2011. As a result, Syrians have to carry huge wads of money with them even to buy groceries.
The new Syrian pound is likely to be printed in Russia
The head of the Syrian Central Bank, Abdulkadir al-Hasriyah, did not specify where the new currency will be printed. Since 2012, the Syrian pound has been issued by the Russian Gosznak, and in May of this year, the media reported that the new government wants to abandon the printing of the national currency in Russia, instead establishing cooperation with companies from the United Arab Emirates (UAE) or Germany.
However, at the end of August, Reuters reported that new denominated Syrian pound notes would be issued in Russia. A delegation from Syria signed a corresponding agreement with the State Bank of Russia during a visit to Moscow in late July.
