The new lira is the only symbol of monetary sovereignty

The Central Bank of Syria confirmed that the new lira is the only symbol of national monetary sovereignty, and that it is working in coordination with the competent authorities to regulate the monetary environment in a way that serves the stability of markets and the interest of citizens, in all Syrian governorates.

The Governor of the Central Bank of Syria, Abdul Qader Al-Husria, said in a statement to the Syrian Arab News Agency (SANA) published on Monday, that the laws and executive decisions that determine the controls and mechanisms for regulating the circulation of other currencies, including the Turkish lira, are different from the exchange process, which is limited to replacing the old currency with a new currency.

Al-Hosariyya stated that the process of replacing the currency comes within well-studied procedures that ensure smoothness and do not burden citizens with any additional burdens, stressing that it is not linked to foreign exchange or the dollar, and does not aim to regulate or restrict it and does not affect market movement or foreign currency reserves.

Al-Hosariyya stressed that the replacement process does not target the Turkish lira at this stage and that the withdrawal of the Turkish lira began separately before the replacement process and is progressing and that any future regulatory measures will be clear and transparently announced, stressing his commitment to communication and transparency.

Yesterday, the Minister of Economy and Industry, Nidal Al-Shaar, and the Governor of the Central Bank of Syria, Abdul Qadir Al-Husariyah, conducted a field tour of a number of currency exchange centers in Damascus, to follow up on currency exchange mechanisms and adherence to the regulatory instructions and controls.