Deadline for exchanging old Syrian currency expires... It has lost its value; trading is now only in the new lira

The Central Bank of Syria announced that the deadline for exchanging old Syrian currency ended on Thursday evening, July 30, following months of implementing the cash exchange program launched by the bank and achieving a high level of completion in the exchange process. The bank emphasized that the expiration of the deadline does not mean the loss of citizens’ rights or the devaluation of their old money. Starting yesterday, a phase began to withdraw these banknotes through the Central Bank of Syria in Damascus, under specific regulations and for a period of five years, without any fees, commissions, or taxes.

The bank clarified that, starting yesterday, the old banknotes have lost their legal tender status and are no longer legally valid for circulation or for conducting any financial transactions. It further explained that the next phase involves the withdrawal of old banknotes, which began yesterday and will continue for five years, implemented exclusively through the Central Bank of Syria in Damascus, as it is the only authorized center for receiving withdrawal requests.

The bank specified the conditions for submitting requests, stating that the number of banknotes presented must be at least 100 notes of any denomination; requests for fewer than this amount will not be accepted. After verification and approval, the entitled value will be transferred to the bank account designated by the applicant, in new Syrian pounds.

The bank confirmed that all withdrawal operations are free of charge, with no commissions, fees, taxes, or expenses. It also clarified that the term “Syrian pound” in all decisions, directives, and official transactions, starting yesterday, refers to the new Syrian pound.

The bank urged citizens to rely solely on official channels for information regarding withdrawal procedures and to avoid being misled by rumors or unofficial sources.