What is Syrian Pound Redenomination?
Understanding the removal of two zeros from the Syrian currency
Quick Summary
What is Currency Redenomination?
Currency redenomination is the process of changing the face value of a currency without changing its actual purchasing power. In Syria's case, this means removing two zeros from the Syrian Pound (SYP).
For example, what was previously 100,000 SYP will become 1,000 new SYP. Your money's value doesn't change – prices, wages, and all financial amounts are simply divided by 100.
How Does It Work?
Simply divide any amount by 100 to get the new value
Why Redenomination?
Simplified Transactions
Dealing with smaller numbers makes daily transactions easier and reduces calculation errors.
Modernized Economy
A fresh start for the currency system as Syria works towards economic recovery and modernization.
Reduced Cash Handling
Fewer physical banknotes needed for the same transactions, reducing printing and storage costs.
International Standards
Aligning with international currency norms makes trade and financial operations more efficient.
Important Points to Remember
- Your savings and purchasing power remain exactly the same
- All prices, wages, and contracts will be converted at the same 100:1 ratio
- Both old and new currency will be accepted during the 90-day transition
- Exchange is free of charge at all authorized institutions
Calculate Your Conversion
Use our free calculator to instantly convert between old and new Syrian Pounds
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