The governor of the Central Bank replaced 56% of the old Syrian currency
The governor of the Central Bank of Syria, Abdul Qader al-Hasriya, revealed that the equivalent of 56% of the Syrian currency has been replaced , at a pace "faster than expected", according to him.
In an interview with Al-Ekhbariya TV, Al-Hossiriya expressed his pride in the replacement experience, describing it as "successful by all standards" and "one of the most prominent achievements of the new era", explaining that the decision to extend the replacement process came to ensure more smoothness and give citizens enough time to replace.
He pointed out that limiting the exchange process through banks aims to control procedures and enhance regulation and transparency, stressing the importance of the role of exchange companies in substitution, but "the natural place for the monetary mass is the banking sector", as he put it.
"We will open new centres in al-Hasakah (northeast) and al-Raqqa (north) provinces in the coming weeks to speed up the replacement process," the governor of the Central Bank of Syria said.
Syrian pound is a candidate for a rise
He said that the Syrian pound is a candidate for improvement in the next phase, with the increase in production and the regulation of import operations, describing the indicators of the Syrian economy as "promising" according to the current data.
The governor said that Syria is "gradually returning to being a bridge for trade and oil transportation" in light of positive regional developments, stressing that the bank is working to provide a suitable economic environment that supports investment and reduces losses resulting from volatility.
The governor of the Central Bank of Syria concluded by pointing out that the exchange rate "is not one-sided, but is affected by the economic data and the existing conditions".
Extension of the currency exchange period
Last Friday , the governor announced the extension of the currency exchange period for an additional 30 days, starting from June 1, 2026, until June 30, 2026.
In a post on Facebook, he explained that the aim of this extension is to provide a greater opportunity to complete the replacement process easily and flexibly, as this will be done exclusively through the branches of the operating banks and according to the terms and controls that will be announced, stressing the importance of following up on official updates and taking advantage of this additional period to ensure the completion of the procedures with ease.
He added that the coexistence between the new and old currencies "will remain in place until the end of the replacement period, which was extended until June 30," and the process of replacing the currency began at the beginning of last January, for a period of 90 days, where every 100 pounds of the old currency is equivalent to one pound of its new counterpart.
4 Prices to the Dollar in Syria
Syria currently has four rates for the dollar, which are the official rate (11.350) approved by the Central Bank of Syria and expresses an administrative exchange rate through which very limited transfers (public institutions, lines of credit, and limited support) are carried out, and its trading value does not exceed 5-10% of the actual volume of foreign exchange demand.
The price of a dollar for fuel is used to price oil derivatives and the price of a dollar for the parallel market, in addition to the price of a dollar for food commodities, which is the real economic price for the consumer, and is used to price food imports that are subject to financing operations through non-banking methods (external transfers through intermediaries, balances abroad, and informal clearing), and these mechanisms bear significant additional costs (commissions, risks, and delays), which raises the actual price of the dollar to levels sometimes up to 18,000-20,000 pounds.