The Central Bank of Syria has confirmed it is continuing to print quantities of banknotes with the Russian company previously contracted, according to established standards and under official agreements that ensure print quality and procedural integrity, Al-Iqtisad News reported on May 19.
This clarification comes in response to news about Syria stopping currency printing in Russia.
Regarding reports about changing the national currency or introducing an entirely new issue, the bank emphasized that "this matter is still under study by the Central Bank of Syria, and is subject to careful assessments covering economic and technical aspects."
The bank added: "No decision will be taken in this regard before completing the required studies and procedures for issuing the necessary decisions."
According to Reuters, citing three sources on May 16, Syria intends to print new currency in the UAE and Germany instead of Russia.
The Central Bank of Syria affirmed its constant commitment "to monitor economic developments and take necessary measures in the interest of monetary stability and strengthening confidence in the Syrian pound."
Syria received a new shipment of Syrian pounds printed in Russia in March, with more shipments expected to arrive in the future, according to Reuters.
Related Articles
SOCAR to supply Syria with gas
Syria’s nascent transitional government has secured a crucial energy agreement with Azerbaijan, a move aimed at alleviating the country’s crippling power shortages and marking a significant step ... more
Iraq rescues citizen kidnapped by Isis in 2014 from Syria
Iraq’s self-titled Popular Mobilisation Forces (PMF) have rescued a citizen kidnapped by ISIS in 2014 and returned him from Syria to Iraq after 11 years in captivity, local newspapers ... more
Syria to rejoin SWIFT payments system within weeks after 14-year exclusion
Syria will return to the SWIFT international payments system within weeks, reconnecting the country to the global economy after 14 years of war and sanctions, the central bank governor announced. ... more