Central Bank announces final deadline for currency exchange and orders banks and exchange companies to refrain from offering old notes

Mohammed Safwat Rusal, Governor of the Central Bank of Syria, announced that the execution rate of the old currency exchange has exceeded 63% across Syria, reflecting the success of the operation and the cooperation of citizens and financial institutions in its implementation.

In a post on the X platform, Rusal stated: “In light of the Central Bank of Syria’s commitment to providing an opportunity for all citizens who have not yet been able to exchange their holdings of old banknotes, it has been decided to extend the exchange deadline by an additional 30 days, effective July 1, 2026, with the new deadline ending on July 31, 2026, as a final opportunity to complete the exchange process.”

Rusal emphasized that the exchange of old banknotes for the new Syrian pound has yielded positive results and high completion rates to date. He urged all banks, exchange companies, and money transfer firms during the remaining period of the exchange operation to refrain from reintroducing any old banknotes into circulation and to strictly provide the new Syrian pound to customers in all withdrawal, disbursement, and cash-handling transactions.

Rusal reaffirmed the Central Bank’s full commitment to supplying the necessary quantities of the new currency and working to meet the needs of citizens and the financial sector, ensuring that the new Syrian pound becomes the sole circulating currency after the expiration of the specified deadline.

Earlier, the day before yesterday, the Governor of the Central Bank of Syria issued a decision extending the old currency exchange deadline by 30 days, effective July 1, with authorized financial institutions continuing to exchange all denominations of the old currency.