A 30-Day Extension
The Syrian Central Bank has extended the period for exchanging old banknotes for the new currency by an additional 30 days, with the new window opening on 1 July 2026 and running through the end of that month. The decision was announced on 31 May 2026.
Authorized financial institutions were directed to continue accepting all denominations of the old currency from 2 June 2026, keeping exchange counters open without interruption.
Built on Two Decisions
The extension rests on the legal framework set earlier in the redenomination, namely Decision 705/H issued on 29 December 2025 and Decision 215/H issued on 17 February 2026, which together govern the withdrawal of the old notes and the rollout of the new currency.
It follows a previous 30-day extension, making this the latest in a series of deadline rollovers since the exchange began.
Why the Deadline Moved
The bank justified the new extension by citing steady progress in the exchange process, indicating that a substantial share of the old currency has already been swapped while leaving additional time for remaining holders.
All old denominations remain eligible for exchange at licensed institutions under the terms of the earlier decisions, with no change to the conversion rules.
Reach of the Measure
The exchange applies to all old denominations and is carried out through licensed banks and financial institutions nationwide, meaning the extension touches every household and business still holding pre-redenomination notes.
By keeping the counters open through the end of July, the bank reduces the risk that valid old notes lose their usability before holders can convert them, smoothing the transition for residents of remote areas or those with limited access to banking branches.
Currency Backdrop
The exchange is the operational core of a wider redenomination that introduced the new pound under the December 2025 decision. In recent trading the Syrian pound (SYP) stood near 139 to the US dollar (USD) in the new denomination, equivalent to roughly 13,900 of the old units.
Completing the swap is central to retiring the old notes from circulation and consolidating the new currency as the sole medium of exchange, and the bank tied the latest extension to the pace of conversions recorded so far.