Syria begins circulating new post-Assad currency bills

Syria started the process of circulating new currency bills on Saturday as the crisis-hit nation seeks to stabilise the economy as it recovers from the fall of Bashar Assad’s Government. A decree issued earlier this week by President Ahmad al-Sharaa said that “old Syrian currency” will be gradually withdrawn from circulation according to a timetable set by the central bank and through designated exchange centres. Central Bank Governor Mokhles Nazer posted on X that after months of preparations, the exchange of old Syrian pounds with new banknotes officially began Saturday morning. The presidential decree posted on the SANA State news agency stipulates that “new Syrian currency” will be issued by removing two zeros from the nominal value of the old currency.