According to several sources the Central Bank of Syria plans to re-denominate its currency by removing two zeros.

This change is expected to be formally announced in early December. The new notes are to be produced by the Russian fiscal printer Goznak.

Current banknotes will co-circulate for one year.

It is still unknown which denominations will be printed. Currently the SYP5,000 note (SYP5,000.1) is the largest in circulation, worth only 50 U.S. cents at the prevailing dollar rate of 10.000 SYP to USD.

Source: Muslim Network TV.

Courtesy: Angelia Pinto, Manor FX

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