Replacing More Than Half of the Old Money Supply: Will It Strengthen the Syrian Pound?

Rapid currency replacement and broad financial sector reform in Syria

Damascus, May 7 (SANA) Over the year since the formation of Syria’s first post-liberation government, the country has recorded notable progress in modernizing its monetary and financial system. Nearly four months after launching the replacement of the old currency, authorities say more than half of the monetary mass has already been exchanged, in what is considered one of the country’s most significant economic transformations, accompanied by st…

Replacing More Than Half of the Old Money Supply: Will It Strengthen the Syrian Pound?

Recent comments by the governor of the Central Bank of Syria about a possible improvement in the Syrian pound have raised new questions about whether such gains—if they materialize—can be sustained and whether they will translate into better living conditions for Syrians. These questions come amid persistent obstacles to economic recovery and continued volatility in exchange rates following the fall of the former regime. Economists and analysts …