Syrian central bank issues 5000 Syrian pound notes

Damascus, January 24 (Xinhua) the Central Bank of Syria announced on the 24th that in order to adapt to changes in the domestic economic situation, it will issue 5000 Syrian pound notes from the same day. Syria’s previous largest denomination note was the 2000 Syrian pound note in circulation in 2017. The Central Bank of Syria said in a statement that in recent years, affected by the war and economic sanctions, prices have risen, and the transaction volume and loss of banknotes have increased. Issuing banknotes with larger denominations aims to meet the actual circulation demand of banknotes and cope with inflation. At the same time, the Central Bank of Syria is coordinating with relevant departments to solve the problem of paper currency circulation by providing necessary electronic payment methods. When the Syrian crisis broke out in 2011, the exchange rate of US dollar to Syrian pound was about 1:47. After that, the Syrian pound fell sharply. At present, the exchange rate of US dollar to Syrian pound is about 1:2900 on the black market.

(editor in charge: Miao Su)

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