The lira, also known as the Syrian Pound (SYP), stands as the official currency of the Syrian Arab Republic. Its roots extend back to 1948 when it was introduced, following the separation of the Bank of Syria and Lebanon, which had previously issued the Syrian-Lebanese lira.
Today, Syria operates with dual exchange rates – an official rate managed by the central bank and a dynamic black market rate influenced by supply and demand.
The Syrian pound was issued through the Syrian Bank for the first time in 1920 AD, and its value was equivalent to 20 French francs, and it was used in Syria and Lebanon.Before the Syrian pound, the French mandate used the Egyptian pound, and before that during the era of the Ottoman Empire, they used the Ottoman lira.New currency denominations were printed after the war, such as 2,000 and 5,000 lira denominations, and the old form of all denominations was changed, but it is still accepted for circulation.
The banknotes currently in circulation in Syria are banknotes in denominations of 50, 100, 200, 500, 1000, 2000, 5000 pounds, and the last denomination issued in 2021 is often used.Coins in denominations of 5, 10, 25, and 50 pounds have become considered souvenirs, due to the constant inflation to which the currency is exposed in Syria.
As of September 2023, the black market exchange rate hovers at 13,750 Syrian pounds to one U.S. dollar and 14,600 Syrian pounds to one euro. These figures starkly contrast with the pre-war era, where 48 Syrian pounds equaled one U.S. dollar in 2011 and 600 Syrian pounds in 2020.
For travelers seeking favorable exchange rates, the border areas, particularly the Lebanese and Jordanian borders, offer small shops that exchange currency. Here, you can secure the best rates before proceeding to the Syrian side, where the official Central Bank exchange rate of 8,500 pounds per U.S. dollar is enforced.
to get the current exchange rate you can use this App LiraToday
The best currency you can bring is the US dollar because you will get its full value and be careful of the banknotes you bring because the exchange shops like the 100 banknotes, the modern version (after 2006) with the blue color. As for the euro, you will lose 0.02 of its actual value due to the lack of demand for it, and the same goes for other currencies. Such as the British pound, the UAE dirham, and the Canadian dollar.
The answer here is mixed. It is yes for hotels, as they are licensed to receive foreign currency and follow the tax system. As for antique sellers, they will accept payment in foreign currency, but the price will be high, so what is best for you is the Syrian currency.As for cafes, restaurants and supermarkets, they will not want foreign currency
Yes, there are ATMs in Syria, but it is an internal system that uses the Syrian pound exclusively, and foreign bank cards do not work in Syria due to economic sanctions.
For any specific questions or further clarification, as well as information on tours to Syria, please don’t hesitate to get in touch.
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