Khaberni - The Central Bank of Syria emphasized the necessity of proper implementation of the cash replacement process and that the standard unit is the new lira (100 piastres), using its fractions for individual pricing and rounding the amount to the nearest category.
The Governor of the Central Bank of Syria, Abdelkader Al-Husriyya, emphasized the importance of accurately and disciplinedly applying the cash replacement process, noting that the new official currency unit is "the new Syrian lira," which equals 100 piastres, meaning every new lira is worth 100 of the old currency.
Al-Husriyya explained that it is permissible to use fractions of the lira (such as 0.3 or 0.6 lira) when pricing goods individually, but the final amount due should be rounded to the nearest circulated currency denomination.
In a post on his Facebook account, Al-Husriyya stressed the need for economic entities to cooperate in precisely implementing this mechanism, in a manner consistent with proper business practices and ethical principles, confirming that these instructions apply to all transactions among citizens.
Al-Husriyya clarified that these directives are based on the provisions of Law No. 23 of 2002, amended by Legislative Decree No. 293 of 2025, which states that the new Syrian lira (divided into 100 piastres) is the official currency unit in Syria.
Regarding the currency denominations, Al-Husriyya pointed out that the denominations of 1000, 2000, and 5000 old lira will be withdrawn from circulation during the current period, while the remaining old denominations will continue to be valid until further notice, within the "cash coexistence" period, to facilitate the gradual transition to the new currency.
The Central Bank illustrated an example: If the price of a unit of a product is 630 old lira, this equals 6.3 new lira. If the consumer buys two units, the total becomes 12.6 new lira, which is rounded to 13 new lira. This amount can be paid, for example, using: 10 new lira + 300 old lira (equivalent to 3 new lira, as long as the 100 old lira denomination is still in circulation), or 1300 old lira allowed within the replacement period.
This comes as part of a strategic decision previously announced by the Central Bank, which involves removing two zeros from the Syrian currency to improve the financial and economic situation.
The replacement process officially began yesterday, Thursday, January 1, 2026, at a rate of: every 100 old lira = 1 new lira, with the replacement period to last for 90 days and subject to extension.
