Syria is moving to replace its former currency with a new pound that strips two zeros from the old notes, as the deadline for exchanging banknotes issued during the rule of former president Bashar Assad approaches.
The Central Bank of Syria reports that approximately 80% of the old currency has already been exchanged since the program began.
The redenomination, which sets a rate of 100 old pounds for one new pound, is part of a broader effort to stabilize the monetary system following the regime change.
The transition aims to simplify transactions and restore some semblance of order to a financial sector that has struggled with hyperinflation and liquidity constraints in recent years.
While the removal of zeros is largely cosmetic, the success of the new currency will depend on whether it can regain the trust of Syrians who have seen their savings eroded by years of conflict and economic mismanagement.
The Central Bank’s progress report suggests the exchange process is moving ahead of schedule, but questions remain about the long-term viability of the new notes without deeper structural reforms.