Syria to introduce a new currency in 2026: Details of replacing the lira and removing zeros
The Governor of the Central Bank of Syria, Abdul Qader al-Hasriya, announced a comprehensive plan to restructure the national currency, including the introduction of a new series of Syrian pound banknotes and the removal of zeros from the face value. This move aims to facilitate monetary transactions and address economic challenges. The decision is scheduled to officially take effect on January 1, 2026.
Details of the new categories and the replacement mechanism
The exclusive report explained that the new currency will feature high flexibility in circulation, with one new lira being equivalent to 100 old liras. Accordingly, a new 500 lira note will be equivalent to 50,000 current liras. The currency will be issued in six main denominations: 5, 10, 25, 50, 100, and 500 liras.
To ensure the smooth operation of the process, the Central Bank allocated a wide exchange network comprising 66 companies and 1,000 outlets dedicated to this purpose, stressing that the decree in this regard did not specify a final date for the end of the exchange, but rather authorized the Central Bank to manage the timetable to ensure that there is no confusion in the markets.
Economic dimensions: Why do countries resort to removing zeros?
This decision comes in an economic context where monetary authorities typically seek to address inflation in the money supply. The process of "removing zeros" or currency redenomination is a financial measure employed by countries whose currencies have suffered a significant decline in purchasing power and inflation in accounting figures, making carrying and handling cash a daily burden for citizens and businesses.
In the Syrian case, this measure aims to reduce the amount of banknotes that citizens need to complete their daily transactions and to facilitate accounting operations in banking and commercial systems, without this meaning a change in the real value of wealth or purchasing power, which was confirmed by the governor when he said that "the change is only in the nominal value.".
Advanced security features and financial inclusion
The exclusive report confirmed that the new currency boasts the latest global security features to prevent counterfeiting, in addition to special features to enable blind and visually impaired individuals to easily distinguish the banknotes. In a related matter, the governor denied the authenticity of the images currently circulating on social media platforms, emphasizing that the bank will officially unveil the currency designs this week.
Reactivation of services in Idlib
In a notable development, the governor indicated that the central bank will reopen its branch in Idlib province, like the rest of the Syrian provinces, in a move that indicates the expansion of the central monetary policy to include wider geographical areas, which strengthens the unity of the financial and banking system in the country.
Al-Hasriya concluded his remarks by calling on citizens and economic actors to cooperate in preserving the value of the national currency, noting that awareness campaigns and detailed explanations will accompany the offering process to remove any ambiguity that may surround the replacement mechanism.
