Syria Introduces New Banknotes, Replaces Assad Family Portraits With National Symbols
Syria has officially rolled out a new series of banknotes, marking a major symbolic and economic shift more than a year after the ouster of former president Bashar al-Assad. The redesigned currency, launched on January 1, 2026, reflects the new administration’s effort to break from decades of personality-driven imagery and stabilise the war-battered economy.
New Delhi, January 2: Syria has officially rolled out a new series of banknotes, marking a major symbolic and economic shift more than a year after the ouster of former president Bashar al-Assad. The redesigned currency, launched on January 1, 2026, reflects the new administration’s effort to break from decades of personality-driven imagery and stabilise the war-battered economy.
The new notes no longer feature portraits of Bashar al-Assad or his father Hafez al-Assad, which had dominated Syrian currency for decades. Instead, the banknotes showcase agricultural and nature-based motifs such as Damascene roses, wheat, olives, oranges, and mulberries - symbols aimed at highlighting Syria’s heritage and productive identity. Americans Killed by ISIS Gunman in Syria: 2 US Soldiers, Translator Killed in Attack in Palmyra by Terrorist Group; Donald Trump Vows ‘Serious Retaliation’.
Speaking at the launch event in Damascus, President Ahmed al-Sharaa described the move as the closure of a “previous, unlamented phase,” stressing that national symbols should replace the glorification of individuals. US Issues Orders Easing Syria Sanctions After President Donald Trump’s Pledge.
Alongside the redesign, the Central Bank of Syria has implemented a redenomination of the Syrian pound, removing two zeros from its face value. Under the new system, 100 old pounds equal one new pound. Central Bank Governor Abdul Qader Husariya said the move is meant to ease daily transactions after years of hyperinflation pushed the currency from around 50 per US dollar in 2011 to nearly 11,000 per dollar by late 2025.
To ensure a smooth transition, authorities have allowed a 90-day dual-circulation period during which old and new notes will both remain legal tender. The exchange process will be free of charge, with bank balances and contracts automatically converted.
Economists say while the reform sends a strong symbolic message, its long-term success will depend on inflation control, economic recovery, and rebuilding Syria’s shattered infrastructure.
(The above story first appeared on LatestLY on Jan 02, 2026 08:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).