Central Bank: Deadline for exchanging old currency ends on the 30th
The Central Bank of Syria announced that the deadline for exchanging old banknotes ended on July 30, following the achievement of a high completion rate in the exchange process. The bank’s media office clarified in a statement relayed yesterday by the Syrian Arab News Agency (SANA) that, as of July 31, old banknotes will lose their legal tender status and become legally invalid for circulation or for conducting any financial transactions.
Regarding the withdrawal of old banknotes, the office stated that the process will begin on Friday, July 31, and will continue for five years. It will be carried out exclusively through the Central Bank of Syria in Damascus, which is designated as the sole authorized center for receiving withdrawal requests.
With regard to the conditions for submitting a withdrawal request, the bank specified that the minimum number of banknotes must be 100 notes of any denomination; requests for fewer than 100 notes will not be accepted. The approved amount, after verification and approval, will be transferred to the applicant’s designated bank account in the new Syrian pound.
The bank clarified that the withdrawal of old banknotes will be processed without any commissions, fees, taxes, or expenses. It further emphasized that, as of Friday, the term “Syrian pound” in all official decisions, directives, and transactions refers to the new Syrian pound.
The bank urged citizens to obtain information on withdrawal procedures only from official channels, to comply with the announced instructions, and to avoid rumors and unofficial sources.
It is worth noting that legal tender status is the legal attribute granted by the state to its national currency, making it a mandatory and legal means of payment for settling debts, discharging financial obligations, and conducting transactions within the country.
Previously, on May 30, the Central Bank of Syria issued a decision extending the currency exchange period by an additional thirty days.
