# Syria currency reform and banknote replacement

> Live situation record from CLSTR: https://clstr.news/situations/syria-currency-reform-and-banknote-replacement
> Updated: 2026-08-01T19:03:00.000Z. Sources: 14. Developments: 3.

In early July 2026 the Central Bank of Syria reported that about 80 % of the old banknotes had been exchanged and outlined next steps such as electronic‑wallet regulation and an anti‑money‑laundering strategy. By the end of July the exchange deadline expired on 30 July; from 31 July the old notes lost legal‑tender status and entered a five‑year withdrawal programme managed solely by the Damascus central bank. Exchanges must involve a minimum of 100 notes, are credited to the holder’s account in the new Syrian pound without any fees, and the term “Syrian pound” in official documents now refers to the new currency. The bank urged the public to use official channels and warned against rumors.

Following the cut‑off, citizens publicly destroyed the obsolete notes, many burning banknotes bearing former President Bashar al‑Assad’s portrait, a symbolic farewell that spread on social media. The reform, completed under the transitional government of President Ahmed Shah, introduced new denominations (10‑500 lira) and removed two zeros from the currency.

## Timeline

### 2026-08-01: Syria retires Assad-era banknotes as citizens burn old currency

Syria’s new banknotes launched on 3 Jan, old Assad‑era notes lost legal tender on 31 July 2026; citizens burned the former currency, sparking social‑media attention.

7 sources. https://clstr.news/cluster/syria-retires-assad-era-banknotes-as-citizens-burn-old-currency

### 2026-07-26: Syria's Central Bank Ends Currency Exchange Deadline, Starts Old Note Withdrawal

Syria's central bank says old banknotes lose legal tender on 31 July 2026 and begins a five‑year exchange program, requiring a minimum of 100 notes and no fees.

4 sources. https://clstr.news/cluster/syrias-central-bank-ends-currency-exchange-deadline-starts-old-note-withdrawal

### 2026-07-10: Syria's Central Bank Replaces 80% of Old Banknotes Under Governor Safwat Raslan

Syria’s central bank, led by new governor Safwat Raslan, has replaced 80% of old banknotes and plans digital‑payment reforms and anti‑money‑laundering steps to regain international confidence.

2 sources. https://clstr.news/cluster/syrias-central-bank-replaces-80-of-old-banknotes-under-governor-safwat-raslan

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Cite as: Syria currency reform and banknote replacement. CLSTR, https://clstr.news/situations/syria-currency-reform-and-banknote-replacement