Syria to introduce new currency in Jan. 2026, aiming to stabilize economy

Syria's Central Bank Governor Abdulkader Husrieh announced Thursday that the country will begin exchanging its newly issued national currency on Jan. 1, 2026, in a move aimed at stabilizing the economy and restoring confidence after years of conflict and currency depreciation, reported Xinhua.

The process is authorized by a decree from the country's interim leader and will be implemented in an organized and transparent manner, Husrieh said in a social media statement, calling the new currency "a symbol of our financial sovereignty and the beginning of a new economic and monetary stage."

Executive instructions and details on exchange centers will be released in the coming days, he added, noting that the central bank will hold a press conference on Dec. 28 to explain the timeline and procedures.

The currency reform is part of broader efforts to address economic instability in Syria caused by prolonged conflict and international sanctions.

Syria entered a political transition in December 2024 following the collapse of the former government after years of conflict. Over the past year, the country has witnessed a gradual reopening of public institutions, a partial restoration of services in major cities, and diplomatic outreach with regional and international actors.

However, large parts of the country continue to face reconstruction challenges, particularly in areas heavily damaged during the conflict, while security incidents persist in border regions.

A World Bank report released in July projected Syria's economy to grow by just 1 percent in 2025, following a 1.5-percent contraction last year. Fourteen years of conflict have shrunk Syria's GDP by more than half since 2010, with per capita income dropping to 830 U.S. dollars in 2024, and one in four Syrians living in extreme poverty.