Syria is starting a new chapter in its history, not only politically and economically, but also monetarily. From 1 January 2026, brand new Syrian banknotes are in circulation – devoid of images of Bashar al-Assad and his father, but instead full of floral motifs to tell a different story about the country than before. The currency reform, announced at a press conference at the headquarters of the Syrian Central Bank, is one of the most symbolic gestures of the new authorities after the regime’s overthrow. It is not only a financial operation, but also an attempt to redefine national identity. As part of the reform, two zeros have disappeared from the banknotes.
Bank governor Abdulkader Husrieh stressed that the currency change was part of a broad strategy to rebuild confidence in the state’s institutions. The denomination – which involves deleting two zeros from the existing denominations – is expected to simplify daily transactions and reduce the need to carry bags full of cash, which has become the sad norm after years of hyperinflation. For 90 days, the old and new currencies will operate in parallel and all bank balances will be automatically converted into the new Syrian Arab Republic pound.
Although there is a technical dimension to the reform, it is the appearance of the new banknotes that is attracting the most attention. Instead of political portraits, they feature floral and agricultural motifs – symbols that have built Syrian daily life and economy for centuries. The banknotes feature roses, wheat, olives, oranges and mulberries. Each of these elements carries its own story. An example is the £10 note with a damask rose and a butterfly. In 2019, the Damascus rose was inscribed on UNESCO’s Intangible Cultural Heritage List as an element of Syrian cultural heritage. The £500 banknote is decorated with wheat, a reminder of Syria’s role as one of the oldest agricultural centres; olives and oranges refer to the Mediterranean climate and the cultivation traditions that have endured even the harshest years; and mulberries recall the history of silk farming, once important to the region.
The new banknotes are intended to be not only aesthetically pleasing but also secure. As early as May 2025, the authorities announced that the new banknotes would be printed in Germany and the United Arab Emirates. Until now, Syrian banknotes have been printed in Russia.
Ahmed al-Sharaa, presenting the banknotes at a ceremony in Damascus, spoke of the “end of an era” and the beginning of a new phase in which the currency is to reflect the community rather than the individual. He stressed that the denomination alone would not cure the economy, but it could make everyday life easier and create the conditions for further reforms. There was an echo of caution in his words – an awareness that the country is still struggling with the consequences of war, sanctions and years of institutional degradation.
The introduction of new banknotes also has a psychological dimension. After years in which the Syrian pound lost value at a dizzying rate – from £47 per dollar in 2011 to as much as £25,000 at the height of the crisis in 2024 – the public has become accustomed to a steady decline in purchasing power. Today, with the exchange rate hovering around 11,000, the denomination is intended to help restore a sense of normality, although it does not change the real value of money. However, the new authorities are counting on the clean-up of the financial system, the strengthening of institutions and the transparency of the currency market to lay the foundation for future stability.
In Damascus, it is said that this is the first reform in years to inspire curiosity instead of fear. In a country that for decades associated money with the political cult of the individual, the appearance of banknotes decorated with plants – so ordinary and yet so deeply rooted in local culture – is a refreshing change.
source: Central Bank of Syria
Read also: Interesting facts | Graphics | Minimalism | Featured | whiteMAD on Instagram
