Today's Edition
DAMASCUS (DPA)
Syrian interim President Ahmed al-Sharaa and Central Bank Governor Abdul Qader Hasriya on Monday unveiled redesigned banknotes, featuring symbols representing the country's geography and diversity.
The transitional Syrian government also said the new notes would include a redenomination removing two zeros, Syria's state news agency SANA reported.
The new banknotes, to be issued in denominations ranging from 10 Syrian pounds - worth 1,000 pounds in the old notes - to 500 Syrian pounds (50,000 old pounds), feature designs linked to different parts of the country.
The 10-pound note depicts a butterfly on a Damask rose symbolising Damascus.
The 50-pound note shows oranges and a seashell representing the coastal region, while the 100-pound note features cotton and a gazelle.
The 200-pound note displays olive trees and horses symbolising northern Syria, and the 500-pound note depicts wheat and a house sparrow representing north-eastern regions.
Speaking at the launch ceremony, al-Sharaa said the currency adjustment marked the beginning of a new phase for Syria.
He stressed that removing zeros from the currency did not in itself improve the economy, but rather facilitated daily financial transactions.
Economic recovery, he said, depends on increasing production, reducing unemployment and strengthening the banking sector.
Al-Sharaa urged citizens not to rush to exchange old banknotes. He said existing currency would be replaced according to a fixed timetable, cautioning that excessive demand could negatively affect the exchange rate.
The interim president also emphasised the need to combat currency speculation and restore public confidence in the Syrian pound.
Hasriya said that the exchange period would last 90 days and may be extended if necessary, with prices displayed in both old and new currencies during the transition.
