If you’ve been keeping an eye on the Syrian pound, you know it’s been a wild ride. Honestly, "wild" might be an understatement. For over a decade, the syrian currency to us dollar exchange rate was basically a chart of a slow-motion car crash. But right now, in early 2026, things are looking... different.
Not necessarily "fixed," but different.
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On January 1, 2026, the Syrian Central Bank officially kicked off a massive currency swap. They’re literally stripping two zeros off the banknotes. If you had 1,000 "old" pounds, you now have 10 "new" pounds. It’s a psychological move, sure, but it’s also a desperate attempt to stop people from having to carry around literal backpacks full of cash just to buy groceries.
The Reality of the Syrian Currency to US Dollar Rate Today
Let’s talk numbers. Because if you’re looking at a standard currency converter online, you’re probably getting a weird, sanitized version of the truth.
As of mid-January 2026, the "new" Syrian pound is trying to find its footing. Before the redenomination at the end of 2025, the black market rate was hovering somewhere around 13,000 to 15,000 old SYP for a single US dollar. With the two zeros gone, the math has shifted, but the value hasn't magically soared.
You’ve got to understand the "split" in the market. There’s the official rate—the one the Central Bank Governor, Abdulkader Husrieh, wants you to believe in—and then there’s the "street" rate.
- The Official Rate: Currently pegged around 110 to 115 new SYP per USD.
- The Black Market (Parallel) Rate: Still volatile, often pushing closer to 130 or 140 new SYP per USD depending on which city you’re in.
It’s confusing. It’s messy. And for anyone trying to send money to family or do business, it’s a constant headache.
Why Did the Pound Collapse in the First Place?
You can’t understand where the currency is going without looking at the wreckage of where it’s been. Back in 2011, before the conflict started, the rate was a steady 47 SYP to 1 USD. Think about that. In 15 years, the currency lost more than 99% of its value.
The collapse wasn't just one thing. It was a "perfect storm" of economic nightmares.
First, the war destroyed the country's productive capacity. When you aren't making anything—no oil exports, no textiles, no tourism—you don't have any "hard" currency coming in. Second, the sanctions. Regardless of the political reasons behind them, Western sanctions made it nearly impossible for the Syrian banking system to connect with the rest of the world.
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Then there was the Lebanon factor. For years, Syrians used Lebanese banks as their "lung" to breathe in US dollars. When the Lebanese banking system imploded in 2019, it basically cut off the oxygen to the Syrian economy.
The 2024 Turning Point
Everything changed at the end of 2024. The collapse of the old regime and the rise of the transitional government under Ahmad al-Sharaa created a massive sentiment shock.
Initially, the pound actually gained value because people were optimistic. There was talk of Gulf investment and the lifting of US sanctions. In May 2025, when Donald Trump mentioned the possibility of removing Syria from certain sanctions lists, the pound jumped 20% in 48 hours.
But optimism doesn't pay for imports.
The trade deficit is still huge. Syria is importing way more than it’s exporting, and that creates a constant, nagging demand for the US dollar that keeps the pound weak.
The New Banknotes and the 90-Day Swap
The government is currently in the middle of a 90-day window to swap out old notes. It’s a logistical nightmare. You see people lining up at designated exchange points in Damascus and Aleppo, clutching stacks of the old 5,000-pound notes.
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The Central Bank is calling this "monetary sovereignty." Basically, they’re trying to tell the world (and their own citizens) that the era of hyperinflation is over.
But here is what most people get wrong: Removing zeros isn't the same as increasing value. If you have a 100-degree fever and you change the scale to Celsius, you're still sick. You just have a smaller number on the thermometer. To actually stabilize the syrian currency to us dollar rate, the government needs more than new paper. They need the $216 billion reconstruction project—the one Egyptian companies are currently eyeing—to actually start putting people to work.
What This Means for Remittances and Business
If you’re sending money into Syria, you’ve probably used a hawala at some point. These are informal money transfer networks that operate outside the traditional banking system.
For a long time, the hawala rate was the only one that mattered. Now, the transitional government is trying to bring that "under the roof" of the Central Bank. They’ve eased some of the strict withdrawal limits, but people are still nervous.
There’s a deep lack of trust. Most Syrians would still rather hold a $100 bill than a stack of new Syrian pounds. Until that psychological barrier is broken, the dollar will remain the "real" currency of the streets.
Surprising Factors Influencing the Rate Now
- The "Bread and Fuel" Factor: The government recently hiked public sector salaries by 200%. While that sounds great for workers, it injected trillions of pounds into the economy, which actually triggered more inflation.
- The Turkish Lira in the North: In parts of Idlib and northern Aleppo, the Turkish Lira (TRY) is still the dominant currency for trade. This "fragmentation" makes it hard for the Central Bank in Damascus to control the national money supply.
- The Egyptian Partnership: The recent Syrian-Egyptian Economic Forum is a huge deal. If Egyptian expertise helps jumpstart the oil and gas sectors in the Mediterranean, we might see the first real influx of foreign currency in a decade.
Actionable Insights for Tracking the SYP
If you’re trying to navigate the syrian currency to us dollar landscape right now, here is the "real-world" advice:
- Don’t Trust "Official" Online Converters: Sites like XE or Google often lag behind the actual street price in Damascus. Check local Syrian news aggregates or specialized telegram channels for the "parallel market" rate.
- Watch the 90-Day Deadline: The swap ends in late March 2026. Expect the rate to be incredibly volatile during the final two weeks of the swap as people scramble to get rid of old bills.
- Look for Sanction News: The US "State Sponsor of Terrorism" designation is the big domino. If that falls in 2026, the Syrian pound could see a massive, genuine appreciation. Until then, any gains are likely just "bounces" based on speculation.
- Prioritize Hard Assets: If you are within Syria, the consensus among local experts remains the same: keep the bulk of your savings in "hard" assets or stable foreign currencies until the new pound proves it can hold its value for at least six consecutive months.
The road to a stable Syrian pound is long. We’re moving away from the era of carrying "bundles" of cash, but the "new" pound still has a lot to prove to the guy selling vegetables in the Souk. It’s a start, but in the world of global finance, trust is the only currency that actually matters.