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Syria to revalue currency, dropping two zeros in bid for stability: Sources tell Reuters

Middle East News

22-08-2025 | 04:29

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Syria to revalue currency, dropping two zeros in bid for stability: Sources tell Reuters

Syria will issue new banknotes, removing two zeros from its currency in an attempt to restore public confidence in the severely devalued pound, according to seven sources familiar with the matter and documents reviewed by Reuters.

The step is intended to strengthen the Syrian pound after its purchasing power collapsed to record lows following a 14-year conflict that ended with President Bashar al-Assad's ouster in December.

The Syrian pound has lost more than 99% of its value since war erupted in 2011, with the exchange rate now at around 10,000 pounds to the U.S. dollar, compared to 50 before the war.

The sharp depreciation has made daily transactions and money transfers increasingly difficult.

Reuters

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