Reuters reported that Syria will issue new banknotes and remove two zeros from its currency in an effort to restore confidence in the severely devalued Syrian pound.
The move aims to strengthen the Syrian currency following the 14-year Syrian crisis, which ended last December with the overthrow of President Bashar al-Assad. The design of the new currency has not yet been revealed, but it will not feature Assad or any symbols of his rule.
Since the start of the crisis in 2011, the Syrian pound has collapsed, now trading at around 10,000 per US dollar, compared with 50 per dollar before the war. The sharp decline has made daily transactions and money transfers increasingly difficult.
The move aims to strengthen the Syrian currency following the 14-year Syrian crisis, which ended last December with the overthrow of President Bashar al-Assad. The design of the new currency has not yet been revealed, but it will not feature Assad or any symbols of his rule.
Since the start of the crisis in 2011, the Syrian pound has collapsed, now trading at around 10,000 per US dollar, compared with 50 per dollar before the war. The sharp decline has made daily transactions and money transfers increasingly difficult.
