Syria to start currency swap on January 1, Central Bank governor says

Syria will start swapping old banknotes ‍for new ones under a plan to ‍replace Assad-era notes starting from January 1, 2026, Central Bank Governor Abdelkader Husrieh said on Thursday.Husrieh announced the introduction of the new Syrian currency, saying ⁠the decree “sets January 1, 2026, as the start date for the exchange process.”For all the latest headlines follow our Google News channel online or via the app.Sources familiar with the matter told Reuters in August that the country will issue new banknotes, removing two zeros from its currency in an attempt ‍to restore public confidence in the severely devalued pound.The step is ‍intended ‍to strengthen the ⁠Syrian pound after its ‌purchasing power collapsed to ⁠record lows ‍following a 14-year conflict that ended with President Bashar al-Assad’s ouster ⁠in December.Husrieh said the operation will take place through ‌a smooth and orderly swap – a move bankers hope will ease fears that the new currency could fuel inflation and further