The Central Bank of Syria Announces the Issuance of a New Currency as Part of Financial Reform Plan

Dr. Abdul Qader Al-Hosri, the Governor of the Central Bank of Syria, announced today, Saturday, a plan to issue a new currency aimed at developing the monetary structure and facilitating daily transactions, as part of the monetary and financial reform process.

In statements to the official "SANA" agency, Al-Hosri confirmed that the main goal of this step is to improve the quality of the circulating banknotes and ensure that market needs are met, emphasizing that there are no expected negative impacts on the value of the national currency.

He explained that the quantities printed of the new currency will be carefully studied, in accordance with the requirements of the national economy, to ensure the stability of the monetary market.

The new currency will be launched in three phases:
• Phase One: Gradual circulation alongside current denominations without withdrawing or canceling them.
• Phase Two: Initiation of the exchange process.
• Phase Three: Exchange becomes exclusive through the Central Bank of Syria.

The new currency features high technical specifications and modern anti-counterfeiting techniques, which enhances confidence in the national currency and protects the rights of users.

The new banknotes will be printed at two or three reliable international sources, using the latest technologies to ensure the reliability of transactions and the safety of monetary operations.

Al-Hosri clarified that the issuance of the new currency is a technical and regulatory measure within the monetary policy, and is not related to increasing the money supply in the market, but aims to improve the management of cash transactions and facilitate payment and purchasing processes.

The Central Bank of Syria is preparing to launch a national awareness campaign at the appropriate time, to clarify all details related to the new denomination and answer questions that may concern citizens and economic entities.