Syrian authorities announced a pricing mechanism to be implemented during the transition period for replacing the national currency, confirming that the process will follow a structured and carefully managed framework.
In a statement issued on Tuesday, the Damascus Chamber of Commerce said the currency replacement will be carried out through a transitional phase lasting approximately 90 days, with the possibility of extension if necessary.
During this period, merchants will be required to display dual prices for all goods and services, one in the old Syrian lira and one in the new currency, to prevent confusion or price manipulation.
The chamber urged traders and business owners to fully comply with the guidelines, stressing that cooperation is essential to maintaining market stability, protecting consumer rights, and ensuring a smooth and orderly transition, according to Syria’s official news agency SANA.
The announcement follows the official launch of the new Syrian lira on Monday evening by President Ahmad Al-Sharaa and Central Bank Governor Abdelkader Al-Hasriya during a formal ceremony in Damascus.
Speaking at the event, President Al-Sharaa emphasized that the removal of zeros from the currency, specifically the elimination of two zeros, does not in itself represent economic improvement, but rather aims to simplify financial transactions and facilitate daily commercial activity.
He described the currency replacement as marking the end of a previous phase and the beginning of a new one, expressing hopes that the reform would ease trading operations, reduce reliance on the US dollar, and strengthen confidence in the Syrian economy over the long term.
For his part, Central Bank Governor Al-Hasriya outlined the operational framework for exchanging old banknotes, noting that the process will be conducted through 66 exchange companies and around 1,000 designated outlets nationwide. He confirmed that the new currency will be issued in six denominations: 5, 10, 25, 50, 100, and 500 liras, with one new lira equivalent to 100 old liras.
Al-Hasriya stressed that the currency exchange will not affect the real value of money, as the change is purely nominal and does not involve an increase in the money supply.
The Central Bank also issued detailed instructions for citizens and financial institutions on how to submit old banknotes for exchange, including requirements for sorting notes by denomination and condition, as part of efforts to ensure an efficient and transparent transition.
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