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Syria to revalue currency, dropping two zeros in bid for stability: Report
The redenomination aims to reduce inflation and improve control over 40 trillion Syrian pounds outside the formal economy, with new notes printed by Russian firm Goznak.
- On December 8, 2025, Syria will issue new banknotes removing two zeros to restore confidence; the Central Bank of Syria alerted private banks in mid-August and set readiness for mid-October.
- With the currency having lost more than 99% since 2011, the Syrian pound now trades at around 10,000 to the U.S. dollar, complicating daily transactions and money transfers.
- After talks in Moscow, officials secured a printing deal with Russian state-owned firm Goznak, directed banks to update systems under Mukhlis al-Nazer, and set a 12-month coexistence until December 8, 2026.
- The Central Bank says the redenomination aims to lower inflation and restore trust in the currency, while Syrian bankers highlight concerns over 40 trillion pounds in cash in circulation; the move also carries symbolic weight as a break from more than five decades of Assad rule.
- Karam Shaar warned that the revaluation could confuse elderly consumers and noted regulatory gaps, proposing `Alternatively, Syria could issue higher denominations of the same currency, say 20,000 or 50,000-pound notes`, Shaar told Reuters.
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Denver GazetteExclusive-Syria to revalue currency, dropping two zeros in bid for stability, sources say
DAMASCUS -Syria will issue new banknotes, removing two zeros from its currency in an attempt to restore public confidence in the severely devalued pound, according to seven sources familiar with the... -August 22, 2025 at 04:01 am EDT MarketScreener
Coverage Details
Total News Sources18
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 22%
C 44%
R 33%
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