03.08.2026 11:45
The 90-day exchange marathon in the 'new currency' process initiated by the Central Bank of Syria within the scope of economic reforms has been completed. With the removal of two zeros from the currency, the new banknotes launched on January 3rd have become the sole valid unit in trade, while old banknotes from the Assad era have been shelved. Images of Syrians burning their invalidated money on the streets have become a topic of discussion on social media.
A critical milestone has been passed in the economic reforms launched after the overthrow of the Bashar al-Assad government in Syria. As the legal validity period for old currencies withdrawn from circulation officially ended on July 31, 2026, some Syrians celebrated by setting fire to banknotes bearing Assad's silhouette.
The "currency reform," one of the most radical steps taken in the economic field by the transitional government led by Syrian President Ahmed al-Sharaa, has been completed. Following the new banknotes released by the Central Bank of Syria on Saturday, January 3, the 90-day period granted for the use of old money in daily trade has expired.
TWO ZEROS DROPPED FROM CURRENCY, AGRICULTURAL SYMBOLS PROMINENT
As part of the step aimed at revitalizing the Syrian economy and restoring credibility to the local currency, which has been losing ground against the Turkish lira, two zeros were removed from the banknotes.
The new banknotes issued in denominations of 10, 25, 50, 100, 200, and 500 Syrian pounds, replacing the money featuring political figures from the old regime era, feature agricultural motifs symbolizing the country's abundance, such as olives, roses, wheat, and oranges.
SYMBOLIC FAREWELL: OLD MONEY SET ON FIRE
With the expiration of the validity period, the old banknotes, now completely out of use, created striking scenes on Syrian streets and social media. The banknotes, which for years symbolized the oppression of the toppled Assad regime and bore the portrait of Bashar al-Assad, were set on fire in the streets by some citizens. The remaining last banknotes were destroyed in machines.
The footage recorded of those moments quickly spread across social media platforms, becoming one of the most notable symbols of the new era.