New Syrian banknotes introduced

The presentation ceremony of the new Syrian banknotes was held at the Conference Palace in Damascus, the capital of Syria.
Elchi.az reports that President Ahmed Shara, Turkish Ambassador to Damascus Nuh Yılmaz, and other government officials attended the ceremony. This ceremony marked the beginning of a gradual transition to the new currency by gradually abandoning the country’s existing banknotes.
President Shara stated in his speech at the ceremony that the transition to the new currency represents the end of the previous era and the beginning of a modern process.
Noting that there are six different experiences in the world regarding currency exchange and the removal of zeros, Shara noted that half of them were successful and half were unsuccessful, which shows that the process has a sensitive and technical dimension in monetary terms.
Emphasizing that economic recovery depends on increased production and decreased unemployment rates, Shara stated that strengthening the banking sector is one of the main conditions for growth and that banks act as a lifeline for the economy. Calling on the public not to panic, Shara said that attempts to get rid of old banknotes quickly are wrong, that all old banknotes will be replaced with new ones, and that hasty actions may negatively affect the exchange rate of the Syrian lira.
It was stated that the new banknotes will facilitate circulation, make buying and selling operations more practical, reduce the decisive role of the dollar, and increase confidence in the economy in the long term.

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