Syria's Central Bank has extended its currency exchange programme by an additional 30 days beyond its original end-of-June deadline, allowing citizens more time to swap old Syrian pound notes for new ones.
56% done and counting: Syria's currency revolution ahead of schedule © Mena Today
Syria's Central Bank has extended its currency exchange programme by an additional 30 days beyond its original end-of-June deadline, allowing citizens more time to swap old Syrian pound notes for new ones.
The decision requires all licensed financial institutions to continue accepting old banknotes from Monday onwards. The Central Bank had already extended the programme once this month, pushing the deadline from June 1 to June 30.
The currency overhaul, part of Syria's efforts to break with the era of ousted president Bashar al-Assad, who was toppled in December 2024, is progressing faster than expected. As of early May, 56% of old banknotes had already been exchanged, with daily flows of 12 to 13 billion Syrian pounds reflecting strong public confidence in the process.
Both old and new Syrian pounds will continue to circulate until the extended exchange period concludes.
Lebanon and Syria will in the coming months begin revising decades-old trade agreements to revive their economic relationship following the ouster of Syrian leader Bashar al-Assad in 2024, Lebanon's economy minister told Reuters on Thursday.
Syrian authorities said on Thursday they had foiled an attempt to smuggle advanced weapons and missiles across the border from Iraq, with state news agency SANA citing an Interior Ministry source as saying the shipment appeared destined for militant group Hezbollah.
The U.S. struck Iran's coastal defenses and missile sites on Wednesday after reimposing a naval blockade of its ports, while Iran threatened to shut off more regional energy exports, saying it was engaged in an "existential war" with America.
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