Syria’s Hasakah residents struggle with shortage of new Syrian currency
HASAKAH, Syria (North Press) – Residents of Hasakah Governorate are struggling to obtain Syria’s new currency, with bundles of banknotes piling up at exchange shops as some businesses and service providers refuse to accept the old currency, residents told North Press on Sunday.
The shortage has caused frustration among residents and disrupted daily transactions, while some traders and exchange offices have reportedly imposed discounts on old banknotes when exchanging them for the new currency.
Syria began replacing its old banknotes with a new currency on Jan. 1, 2026, as part of a monetary reform aimed at simplifying transactions and replacing notes issued under the former regime. The new currency removed two zeros from the old pound, meaning 100 old Syrian pounds equal one new pound.
The Central Bank initially planned a gradual transition, but the old Syrian pound ceased to be legal tender on July 31. The bank has allowed old notes to be withdrawn through a separate process for five years.
The replacement process has faced challenges, including liquidity shortages, long queues and confusion over the acceptance of old and new notes. By August, about 95 percent of the old cash stock had reportedly been replaced nationwide, according to the Central Bank, although shortages persist in some areas.
In Hasakah, residents are calling for more new banknotes to be supplied to local markets and for additional exchange centers to be opened.
They say the limited availability of the new currency has left them unable to pay for essential goods and services, while some traders have taken advantage of the situation by reducing the value of old notes.