Syria Announces Major Currency Overhaul for 2026

The Central Bank of Syria has confirmed it will introduce a new national currency in early 2026, replacing the existing banknotes in a significant monetary overhaul. The move is officially described as a pivotal step to stabilize the country's economy after years of crisis.

Central Bank Governor Abdelkader Husrieh announced that the process will begin on January 1, 2026, based on a government decree issued the previous year [34797]. The initiative will involve a nationwide exchange where citizens can swap their old Syrian pound notes for the newly designed currency at dedicated outlets [35402]. Officials have framed the change as the start of a "new monetary phase" aimed at restoring public trust and simplifying daily transactions [34794][34841].

While specific details on the new currency's name and exchange rate remain undisclosed, the central bank has moved to control public speculation, stressing that all official information will come through formal channels [31775]. The bank has also recently reinforced that all current banknotes remain valid legal tender until the exchange begins, instructing financial institutions to accept them without exception [34181].

The planned redenomination, which involves removing zeros from the currency, is presented as a technical measure to combat the severe inflation and devaluation that have eroded the pound's value during more than a decade of war [34794][34841]. The central bank is concurrently developing a five-year strategic roadmap for 2026-2030 to support broader financial stability [10415].

This currency reform is set against a backdrop of ongoing economic challenges, where officials have identified the repeal of stringent U.S. sanctions, known as the Caesar Act, as a critical factor for long-term recovery [24435].