Syria introduces new banknote to protect economy

The Central Bank of Syria introduced a new banknote for a denomination of 5,000 Syrian pounds(SYP) on Sunday. This has been done in order to secure cash-based trading needs and cope with inflation.

A picture of the new note, published on the official page of the Central Bank of Syria, shows a Syrian soldier saluting the flag, along with a fresco from the Baal Shemin Temple in the ancient city of Palmyra. 

As reported by DC Nepal, the banknote was already printed in 2018 but was only made public on Sunday.

The official press release stated that the time had become appropriate to introduce the new banknote, according to the current economic variables.

Due to the prolonged war which started in 2011, the economy of the country has shrunk heavily. To tackle the falling value of the currency, the government had also released 2,000 SYP notes back in 2017. 

The new banknotes have more authentication features making them harder to counterfeit and easier to distinguish from fakes.

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