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Syria issues new banknote to cope with inflation
Published: Jan 25, 2021 09:19 AM

A Syrian shows new banknotes of 5,000 Syrian pounds in Damascus, Syria, on Jan. 24, 2021. The Central Bank of Syria on Sunday issued a new financial note for 5,000 Syrian pounds as part of the measures to confront inflation, according to the bank statement. (Photo by Ammar Safarjalani/Xinhua)

The Central Bank of Syria on Sunday issued a new financial note for 5,000 Syrian pounds as part of the measures to confront inflation, according to the bank statement.

The new banknote was printed two years ago but was released to the public on Sunday as part of the efforts to fight inflation and secure the cash trading needs.

"The Central Bank of Syria found that the time has become appropriate, according to the current economic variables, to introduce the new banknote," the statement read.

It's the second banknote released during the nearly 10-year long war in Syria.

In 2017, the Bank released a note for 2,000 Syrian pounds.

This comes as the Syrian currency has taken a free fall during the Syrian war, more notably since late 2019 as a result of the prolonged war and sanctions on Syria. 

 

A Syrian shows new banknotes of 5,000 Syrian pounds in Damascus, Syria, on Jan. 24, 2021. The Central Bank of Syria on Sunday issued a new financial note for 5,000 Syrian pounds as part of the measures to confront inflation, according to the bank statement. (Photo by Ammar Safarjalani/Xinhua)



 

Syrians show new banknotes of 5,000 Syrian pounds in Damascus, Syria, on Jan. 24, 2021. The Central Bank of Syria on Sunday issued a new financial note for 5,000 Syrian pounds as part of the measures to confront inflation, according to the bank statement. (Photo by Ammar Safarjalani/Xinhua)



 

A man looks at new banknotes of 5,000 Syrian pounds in Damascus, Syria, on Jan. 24, 2021. The Central Bank of Syria on Sunday issued a new financial note for 5,000 Syrian pounds as part of the measures to confront inflation, according to the bank statement. (Photo by Ammar Safarjalani/Xinhua)



 
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