Syria unveils redesigned banknotes, erases Assad era symbols
New banknotes have begun circulating at money exchange points across Syria, replacing currency that previously carried images of ousted longtime ruler Bashar al-Assad and his family, as the country’s new leadership moves to stabilise the economy and restore confidence in the Syrian pound after more than a decade of conflict.
The redesigned notes, which have been in preparation for months, are part of a broader effort to revive the battered economy and signal a clear political and symbolic break from the past.
Years of war have severely weakened Syria’s currency, with inflation recently climbing into triple digits. In late 2025, an unnamed official told Reuters that the Central Bank of Syria’s foreign exchange reserves had fallen to about $200 million, down sharply from roughly $17 billion in 2010. Rebuilding trust in the pound remains a major challenge for the new authorities, alongside lingering security and governance concerns.
As part of the overhaul, the government carried out a redenomination by removing two zeros from the old currency. Announcing the new banknotes last week, Syrian leader Ahmed al-Sharaa described the move as “the end of a previous, unlamented phase and the beginning of a new phase that the Syrian people aspire to.”
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He said the redesigned currency reflects a new national identity and marks a departure from the glorification of individuals.
The new notes, in denominations ranging from 10 to 500 Syrian pounds, officially entered circulation on January 1. They feature images of roses, wheat, olives, oranges and other agricultural symbols closely associated with Syria, replacing portraits linked to the former regime.
Many Syrians have welcomed the change. Muhammad Zaar, a resident of Damascus, told Al Jazeera he was relieved to see Assad’s image removed. “At least we get rid of this previous president. It is ridiculous to see his picture on our money,” he said.
Al Jazeera’s Damascus correspondent, Ayman Oghanna, said the redesign aims to simplify daily transactions, support economic recovery and underline a political shift. “What a country prints on its currency says a lot about what it wants to be,” he noted, adding that the new denominations also serve to legitimise the transitional authorities.
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Before the redenomination, the Syrian pound had collapsed from about 50 to the US dollar in 2011 to around 11,000, forcing citizens to carry large bundles of cash for routine purchases. Officials insist that removing the zeros does not alter the currency’s real value, but makes transactions more practical.
The rollout coincides with renewed international engagement. The United States has announced the permanent lifting of the so-called Caesar sanctions, potentially opening the door to foreign investment, while Gulf states such as Qatar and Saudi Arabia have pledged billions of dollars in financial assistance, offering a fresh economic lifeline to the war-ravaged nation.
Bashar al-Assad was forced from power after years of mounting political, economic and social pressure that began with the 2011 Arab Spring protests. What started as peaceful demonstrations against corruption, repression and hardship was met with a violent crackdown, spiralling into a prolonged civil war that devastated infrastructure and displaced millions.
By late 2025, a mix of sustained domestic opposition, elite defections and shifting regional and international dynamics ended the Assad family’s decades-long rule, paving the way for a transitional government now seeking to rebuild the state and redefine Syria’s national identity.
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