Syria to Launch New Currency from January 2026 in Bid to Revive Economy

ERBIL (Kurdistan24) – Syria will begin replacing its national currency with newly redesigned banknotes starting January 1, 2026, as part of broader efforts to stabilize the economy and mark a new chapter following the fall of former president Bashar al-Assad, the country’s central bank chief announced on Thursday.

Abdul Qadir al-Hasriya, governor of the Central Bank of Syria, said the rollout of the revamped Syrian pound would symbolize a fresh start for the country’s financial system after years of conflict and economic collapse.

“January 1, 2026, is the start date for the replacement process,” al-Hasriya said in a statement, adding that further details on implementation would be announced at a press conference scheduled for Sunday.

He described the new currency as “a symbol of our financial sovereignty after the liberation” and “a firm step toward stability and economic recovery,” stressing that the move comes at a “pivotal national juncture” signaling the beginning of a new monetary era.

Currency Collapse After Years of War

Since the outbreak of Syria’s civil war in 2011, the Syrian pound has suffered a dramatic decline, plunging from around 50 to the U.S. dollar before the conflict to roughly 10,000–11,000 today. The sharp depreciation has severely eroded purchasing power, forcing Syrians to carry large bundles of cash even for basic daily purchases.

The country’s new authorities have identified restoring confidence in the national currency as one of their most urgent challenges. Earlier this year, officials announced plans to remove two zeros from the currency and introduce new banknotes, a technical redenomination aimed at simplifying transactions rather than changing the pound’s real value.

Some current banknotes still bear the images of Bashar al-Assad and his father, Hafez al-Assad, who ruled Syria for decades—symbols the new leadership has sought to move beyond.

Sanctions Lift, Investment Hopes Rise

The currency reform comes amid improving international conditions for Syria’s economy. Earlier this month, the United States announced the permanent lifting of the so-called Caesar sanctions, a move expected to ease Syria’s economic isolation and open the door for foreign investment after years of restrictions.

Al-Hasriya reiterated that the replacement of banknotes would not affect the currency’s value or fuel inflation, noting that the new notes would simply replace existing ones. The central bank plans to issue six new denominations as part of the transition.

Officials say the measures are designed to restore confidence, streamline cash usage, and support a gradual economic recovery in a country battered by years of war, sanctions, and soaring prices.