Withdrawal Begins July 31
The Central Bank of Syria has set out the procedure for exchanging old banknotes once they lose their status as legal tender and can no longer be used in circulation or for financial transactions. The measure follows the close of the exchange period on 30 July 2026.
Under the plan, the withdrawal of old notes begins on 31 July 2026 and runs for five years. It will be carried out exclusively through the Central Bank of Syria in Damascus, which the monetary authority designated as the sole center authorized to receive withdrawal requests.
How the Process Works
Holders must submit at least 100 notes of any denomination in a single request; applications below that threshold will not be accepted. After the notes are checked and the request is approved, the corresponding value is transferred to a designated bank account in the new Syrian pound (SYP).
The value is credited only once the submitted notes have been verified, and it is paid into a specified bank account rather than handed over in cash, tying each exchange to the formal banking system.
No Fees Charged
The exchange will be carried out without commissions, fees, taxes, or other charges. From 31 July 2026, any reference to the "Syrian pound" in official decisions, instructions, and transactions will mean the new Syrian pound (SYP).
Five-Year Window
The five-year timeframe follows an earlier decision issued on 30 May 2026 that extended the currency-exchange period by an additional 30 days, effective 1 July 2026. The staggered schedule gives holders of old notes a defined path to recover their value after the currency ceases to be valid for everyday use.
Guidance to Holders
Citizens were urged to rely only on official channels for information about withdrawal procedures and to follow the published instructions, avoiding rumors and unofficial sources.
Legal tender is the legal status a state grants its national currency, making it a mandatory means of settling debts and completing transactions within the country. Its loss is what renders the old notes invalid for daily use and channels their value through the withdrawal process instead.