A Pro-Kremlin Dictator Was Removed From Money In His Country

• 4.01.2026, 9:01

There are also fewer zeros on the banknotes.

Syria has put updated banknotes into circulation, removing the two zeros from the denomination and replacing Assad's portraits with national symbols.

It was reported by Associated Press.

The new system means that every 100 old pounds equals one new pound, and the largest banknote is now 500 pounds (equivalent to 50,000 old ones).

The design of the banknotes has been radically changed: portraits of Bashar al-Assad and his father Hafez have been removed, and instead the bills feature roses, wheat, olives and oranges. President Ahmad al-Sharaa called it a symbol of "moving away from honoring individuals" and the beginning of a "new era."

Central Bank Governor Mohles Nazer specified that the exchange of old money will be done through special centers and private banks. The transition period has 90 days.

The old pound is now worth about 11,800 to one U.S. dollar at exchange offices in Damascus. The Associated Press notes that at the start of the conflict in Syria - in mid-March 2011 - the U.S. dollar was worth 47 Syrian pounds.

Bashar al-Assad's regime in Syria collapsed in December 2024 after a series of successful offensives by the Islamist group Hayat Tahrir al-Sham and other opposition forces that gained control of most of the country's cities, including the capital Damascus.

The Syrian army effectively disintegrated: the military abandoned equipment and weapons, and Assad's allies Russia and Iran did not provide support.

Bashar al-Assad and his family left the country for Russia, taking with them much of the property gained during his years in power.

In January 2025, opposition leader Ahmad al-Sharaa became Syria's interim leader. He promised to restore democratic institutions and hold elections within the next five years.