If you’re looking at the Syrian pound currency today, things look... different. Very different. Honestly, if you haven’t checked the news in a few weeks, you might think you're looking at a completely different country’s economy. And in many ways, you are.
As of January 17, 2026, Syria is in the middle of its most radical monetary experiment in six decades.
We aren't just talking about a slight dip or a climb in exchange rates. We are talking about a total overhaul. The Central Bank of Syria, now under the leadership of Governor Abdelkader Husrieh, officially pulled the trigger on a massive currency swap on January 1st.
The New Reality of the Syrian Pound Currency Today
Right now, the "new" Syrian pound is the talk of every market from Damascus to Aleppo. Basically, the government decided to lop two zeros off the old currency. If you had 10,000 old Syrian pounds yesterday, today you’re looking at 100 of the "new" variety.
It's a psychological play. For years, Syrians had to carry literal sacks of cash just to buy groceries. Imagine trying to pay for a refrigerator with bricks of 5,000-pound notes. It was absurd. It was exhausting.
The exchange rate today is hovering around 110 to 115 Syrian pounds to the US dollar.
Wait. Take a breath.
Before you think the economy miraculously healed overnight, remember those missing zeros. In "old" money terms, we are still looking at a rate of roughly 11,000 to 11,500. The black market—which everyone still watches like a hawk—is slightly higher, but the gap is closing. Why? Because for the first time in a decade, there is a flicker of confidence.
💡 You might also like: Jordan to US Dollar: What Most People Get Wrong About the Dinar
Why the "Two-Zero" Swap Isn't Just Math
Governor Husrieh has been all over the news calling this a move for "financial sovereignty." It’s a bold claim.
When Bashar al-Assad fled in December 2024, the currency was in a death spiral. It had lost 99% of its value since 2011. People were ditching the pound for Turkish Liras or Dollars just to survive.
Today, the transitional government is trying to scrub the old regime’s face off the money—literally. The new banknotes started circulating on January 1, 2026. They don't have the Assads on them. They feature historical sites and symbols of "renewal."
The logistics are a mess
Don't let the official press releases fool you. Swapping an entire nation's cash is a nightmare.
- Old notes are still in play: You can still use the old 5,000 and 2,000 notes, but they are being phased out fast.
- Traders are confused: Walk into a shop in Douma today, and you'll see merchants using two calculators. One for the "old" price and one for the "new."
- Contract chaos: If you signed a lease for 1 million pounds last year, is it now 10,000? Legally, yes. But try telling that to a landlord who watched inflation eat his savings for 14 years.
The "Caesar" Effect and the 2026 Outlook
The biggest reason the Syrian pound currency today isn't just a joke anymore is the lifting of the Caesar Act sanctions.
The US finally moved to lift these restrictions late last year. That changed everything. Suddenly, $28 billion in "memorandums of understanding" started turning into actual construction equipment and engineers arriving at the Port of Latakia.
But here’s the reality check: inflation isn't gone.
Economist Younes al-Karim recently warned that while the currency looks "prettier" and the numbers are smaller, the cost of living is still brutal. A bundle of bread that cost 400 pounds a couple of years ago is now effectively 40 "new" pounds. That sounds small until you realize a public servant's salary might only be 1,500 new pounds a month.
What Most People Get Wrong About the SYP
People think the "new" pound means the war is over and the economy is fixed. It isn't.
Syria is still fragmented. The Syrian Democratic Forces (SDF) still control a huge chunk of the oil in the northeast. Without a deal between Damascus and the SDF to share that revenue, the Syrian pound currency today is essentially built on hope and foreign aid rather than actual production.
Also, watch the electricity bills. The government has been hiking prices to pay for the new gas lines from Turkey. Some analysts think electricity could soon take up 60% of an average family's income. That's a recipe for a new kind of crisis.
Actionable Insights for 2026
If you are dealing with the Syrian pound today, here is the ground reality:
- Don't Hoard Old Cash: The Central Bank has set a strict deadline for the swap. If you’re holding old banknotes, get to a bank now. The "grace period" won't last forever.
- Verify the Rate: Don't just trust a single shopkeeper. Use apps like "Al-An Chand" or check the UN's operational rates to make sure you aren't getting the "confusion tax" on the new denominations.
- Watch the Zeros: Double-check every digital transfer. It is incredibly easy to add an extra zero out of habit and accidentally pay 10x the price.
- Expect Volatility: The current "stability" is fragile. It’s held up by the excitement of the new government and the lifting of sanctions. Any political hiccup will send people running back to the US dollar.
The Syrian pound currency today is a symbol. It’s an attempt to turn the page. But as any Damascene trader will tell you, you can't eat a new banknote. The real test isn't whether the zeros are gone; it's whether those new notes can actually buy a bag of flour tomorrow.
Check the official Central Bank portal for the list of approved exchange locations in your province to avoid black market scams during this transition. Keep your old receipts for any major transactions made during this two-currency overlap period to avoid legal headaches later.