Syria's Central Bank Dismisses Digital Currency Rumors and Details New Currency Plans
December 14, 2025342 ViewsRead Time: 2 minutes
Font Size
16
The Central Bank of Syria has officially addressed the ongoing speculation surrounding the potential launch of a digital currency, categorically denying the rumors circulating on social media.
The bank stated that any announcements regarding the issuance of new currency or financial instruments will be communicated solely through its authorized channels. It urged the public and media to be cautious and rely only on official information, as reported by the Syrian news agency "SANA".
Official Currency and Exchange Plans
The bank confirmed that the currency exchange plan will continue in collaboration with relevant authorities, noting that no definitive date has been set for the introduction of the new currency. It emphasized that any unofficial information regarding this matter is unfounded.
This clarification comes amid unverified reports about digital currencies circulating on various digital platforms, prompting the central bank to provide accurate information.
Characteristics of the New Syrian Currency
Abdul Qadir Al-Hosriya, the Governor of the Central Bank of Syria, outlined key features of the forthcoming currency, which will involve removing two zeros from its nominal value. This change aims to simplify cash transactions and bolster confidence in the local lira.
He indicated that the new currency will be available in six denominations to cater to daily trading requirements, with production handled by multiple entities to ensure quality, security, and prompt issuance, alongside a phased withdrawal of older denominations from circulation.
Ensuring Market Stability and Liquidity
Al-Hosriya further noted that the bank will implement measures to manage liquidity and maintain price stability upon the currency's launch. This includes monitoring the cash market, regulating the money supply, and employing monetary policy tools to mitigate inflation or speculation linked to the new denominations.
The bank affirmed that these initiatives are designed to facilitate secure cash transactions and enhance public trust in the local currency among citizens and businesses.
The bank stated that any announcements regarding the issuance of new currency or financial instruments will be communicated solely through its authorized channels. It urged the public and media to be cautious and rely only on official information, as reported by the Syrian news agency "SANA".
Official Currency and Exchange Plans
The bank confirmed that the currency exchange plan will continue in collaboration with relevant authorities, noting that no definitive date has been set for the introduction of the new currency. It emphasized that any unofficial information regarding this matter is unfounded.
This clarification comes amid unverified reports about digital currencies circulating on various digital platforms, prompting the central bank to provide accurate information.
Characteristics of the New Syrian Currency
Abdul Qadir Al-Hosriya, the Governor of the Central Bank of Syria, outlined key features of the forthcoming currency, which will involve removing two zeros from its nominal value. This change aims to simplify cash transactions and bolster confidence in the local lira.
He indicated that the new currency will be available in six denominations to cater to daily trading requirements, with production handled by multiple entities to ensure quality, security, and prompt issuance, alongside a phased withdrawal of older denominations from circulation.
Ensuring Market Stability and Liquidity
Al-Hosriya further noted that the bank will implement measures to manage liquidity and maintain price stability upon the currency's launch. This includes monitoring the cash market, regulating the money supply, and employing monetary policy tools to mitigate inflation or speculation linked to the new denominations.
The bank affirmed that these initiatives are designed to facilitate secure cash transactions and enhance public trust in the local currency among citizens and businesses.
