If you’re looking at the exchange rate for 1 US dollar to Syrian pound today, you might think your screen is glitching. One site says 11,000. Another says 115. A third mentions a "new pound." Honestly, it’s a bit of a mess right now, but there is a very specific reason for the chaos.
Syria just hit the "reset" button. On January 1, 2026, the Central Bank of Syria (CBS) officially kicked off a massive currency overhaul. They aren't just printing new paper; they are fundamentally changing how the money is counted.
The 100-to-1 Reality Check
Basically, the government decided to lopped off two zeros. If you had 10,000 "old" Syrian pounds yesterday, they are essentially being swapped for 100 "new" pounds. This technical move, known as redenomination, is why you see the official rate hovering around 115 SYP to 1 USD in some banking tickers, while others—mostly those tracking the old notes still in circulation—are still shouting five-digit numbers.
Governor of the Central Bank, Abdul Qadir al-Hasriya, has been all over the news trying to explain that this isn't a devaluation. It’s a housekeeping move. Carrying around bricks of cash just to buy a gallon of milk was getting ridiculous.
Why 1 US Dollar to Syrian Pound is Moving Right Now
The Syrian pound has been through the wringer. Before the conflict started way back in 2011, you could get about 50 pounds for a single dollar. By late 2025, that number had spiraled past 14,000 in some black market circles.
But things shifted fast in the last few months of 2025. Two major things happened:
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- The Caesar Act was repealed. The permanent lifting of these U.S. sanctions opened a door that had been locked for years.
- A new government took over. Following the fall of the previous regime, the "liberation" (as the new officials call it) triggered a wave of market optimism.
We saw the pound strengthen by nearly 20% in just forty-eight hours after the U.S. announcement. Speculators went wild. People who were hoarding dollars started dumping them, thinking the Syrian pound was about to make a miraculous comeback.
It didn't quite work out that way. The initial "sentiment shock" faded, and the rate settled back down. As of mid-January 2026, the 1 US dollar to Syrian pound mid-market rate is holding relatively steady, but "steady" is a relative term in Damascus.
The Black Market vs. The Bank
Don't be fooled by the official bank rates. Even with the new currency rollout, there is still a gap. While the Central Bank might tell you the rate is 111 or 115 (new pounds), the street rate is often a different story.
Karam Shaar, a well-known economist who tracks Syrian macroeconomics, has often pointed out that the "Official Market Rate" is mostly used for UN transfers and humanitarian aid. If you’re a regular person on the street in Aleppo or Homs, you're likely dealing with a "hawala" dealer. These informal money movers are the real heartbeat of the Syrian economy.
Currently, the black market rate for the "old" currency is still being quoted around 11,900 to 12,000. If you do the math for the new currency, that puts the street value closer to 120 SYP for 1 USD. It’s a small gap, but in a country rebuilding from scratch, every piastre counts.
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Misconceptions About the New Banknotes
People hear "new currency" and they panic. They think inflation is going to skyrocket again.
Actually, the goal is the opposite. By introducing six new denominations—which, thankfully, no longer feature the faces of the Assad family—the central bank is trying to simplify accounting. It makes life easier for businesses. Imagine trying to run a grocery store where a bag of rice costs 45,000 units. The math is exhausting.
The transition period is set for 90 days. You have until the end of March 2026 to swap your old "Assad pounds" for the new "Sovereignty pounds."
Will the Pound Keep Getting Stronger?
Honestly? It’s a toss-up.
The trade deficit is still huge. Syria is importing way more than it exports because the country's factories are still being rebuilt. When you import goods, you need dollars to pay for them. That creates a constant, "quiet" pressure on the pound to lose value.
However, there’s talk in Washington about removing Syria from the State Sponsor of Terrorism list later this year. If that happens, foreign investment might actually start flowing in for real, not just as a speculative rumor. That would be a massive win for the SYP.
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How to Handle Your Money in Syria (2026)
If you're dealing with 1 US dollar to Syrian pound transactions right now, you need to be smart. This is a transition phase, and those are always messy.
- Watch the Zeros: Double-check every quote. Make sure you know if the person is quoting the "Old Pound" or the "New Pound." A mistake here could cost you 100x your money.
- Use Official Channels if Possible: With the sanctions gone, more banks are coming back online. The "gap" between the bank and the street is narrower than it has been in a decade.
- Don't Hoard: The 90-day swap window is strict. If you have old banknotes stashed under a mattress, get them to a transition center before the March deadline. After that, they’re just expensive wallpaper.
The economy is in a "wait and see" mode. We’ve seen the policy rate held at 5.00% by the Central Bank of Syria as they try to keep things from overheating. It's a delicate balancing act.
Actionable Next Steps
If you are holding Syrian currency or planning a transfer, your first move is to verify the current "New Pound" denomination at your local bank. Avoid large-scale exchanges on the street during this 90-day window, as counterfeit "new" notes have already been reported in some border areas. Stay updated on the CBS press releases throughout January, as they are expected to adjust the withdrawal limits for the new currency to manage liquidity.
The era of carrying bundles of cash is over, but the era of economic stability is only just beginning. Keep a close eye on the news out of Washington regarding the "State Sponsor of Terrorism" status; that will be the next big catalyst for the exchange rate.