Syria's Assad era banknotes cease to be legal tender from 31 July as the central bank says about 80 percent of the old currency has been withdrawn

Syria's old banknotes bearing the image of ousted president Bashar Assad have lost their status as legal tender, closing a monthslong exchange window. The Central Bank of Syria ended speculation about a further extension on Sunday, confirming that the notes become invalid for circulation from 31 July 2026 (9 Mordad 1405). Exchanges at banks and designated centres ended on 30 July.

The bank said roughly 80 percent of the old currency has been pulled out of circulation since January 2026. From 31 July a five year withdrawal period begins, handled exclusively by the Central Bank, with each application required to include at least 100 banknotes. Syria's transitional government unveiled the new banknotes on 29 December 2025; the new currency removes two zeros from the nominal value of the old money.

The transition was marked by public confusion, shortages of new small denomination notes and allegations of manipulation in the informal market. By 27 July some businesses in Damascus had begun refusing the old notes. Benjamin Feve, a senior consultant at Karam Shaar Advisory, said ending the old notes' legal tender status formally closes the main phase of the currency replacement and gives policymakers a clearer view of the money supply, something he said could improve the central bank's ability to manage inflation and stabilise the pound.