DAMASCUS - With the deadline nearing for swapping banknotes printed under former president Bashar Assad, the Central Bank of Syria reports that roughly 80 percent of the legacy currency has already been turned in since January.

The change replaces the old notes with a fresh Syrian pound that trims two zeros from its nominal value, so 100 old pounds equal one new pound. This step goes past simple note replacement and touches on questions of national identity, trust in the local currency, and the nations longer term economic path.

Money serves as more than a daily tool. The pictures and emblems on notes often mirror the states character and the political period they represent. Syrians therefore view the removal of notes showing Assad as a clear break from a closed chapter.

Removing notes with Assad portrait holds symbolic weight

Researcher Mohammad Jamal Tahan explained that leaders images on currency have long served to project power and keep a rulers image in daily view. He noted the prior notes had become tied to a leader many Syrians blame for hundreds of thousands of deaths in the conflict, so their replacement marks an important symbolic step in the political shift.

Over time, Syrian notes have tracked the nations political turns, with names, images, and symbols changing alongside governments and evolving ideas of identity.

Yet a redesign and redenomination alone will not strengthen the pound. Its worth will rest on economic steadiness, local output, and faith in financial bodies.

Central Bank Governor Safwat Raslan stated the exchange deadline falls on July 30, after which old notes lose legal tender status on July 31. From that point they cannot be used in trade or to settle debts.

Raslan added that about 80 percent of old notes have been swapped since the start of the year, leaving roughly one fifth still outside formal channels.

He said the official withdrawal window opens July 31 and lasts five years. Requests will be accepted only at the Central Bank headquarters in Damascus.

Each request must cover at least 100 notes of any denomination, and smaller batches will be rejected.

After review, the matching amount in new pounds will move to a bank account chosen by the applicant.

Raslan confirmed the process carries no fees, taxes, or charges and urged citizens to use only official sources for updates.

Old notes lose market use from July 31 onward

After July 31 the old notes cannot circulate in markets, though holders keep the right to claim their value at the Central Bank over the next five years under the set rules.

Restricting exchanges to Damascus and setting a 100 note minimum may pose hurdles for small holders and those in remote areas.

In Damascus markets, views are divided. Some see the new pound as the start of a fresh period, while others say note changes alone will not help without rising incomes and steadier prices and rates.

Resident Bahjat Daqdouq said replacing the currency had become necessary due to the old pounds weakness and its political images.

He added that real strength in the new pound is needed beyond note swaps, noting the exchange rate remains near 13,000 old pounds per US dollar.

New notes range from 10 to 500 pounds, cutting the number of bills needed for routine buys without altering buying power on its own. Grocer Abu Hassan al Kuwa said the change has eased payments, as shoppers now carry fewer notes, creating a positive effect for both sides.

Economists note that note replacement may aid money supply control, reduce counterfeiting, and draw some cash back into banks.

Economist Abdel Azim al Maghribel said the pounds value depends on economic confidence and the states skill at managing spending, boosting output, and drawing investment, not on design or symbols.

He stressed that the new currency can support reform but cannot replace it, and that stability needs clear policy, spending control, more production and exports, and banking sector repair.

Cases in Iraq, Turkey, and West Germany show that currency swaps can close a political page or reset a monetary system, yet success always tied to broader steps on inflation, rates, and institutions.

In Syria the results will be measured by price and rate stability, funds entering banks, public uptake of new notes, and whether people regain enough trust to hold the pound as a store of value.

As symbols of the prior era leave the notes, the key issue is what comes next. The new currency may offer a different state image, but restoring its worth hinges on real economic stability and growth.

Currency can be printed. Trust cannot.