Tags: APFN | ML | Syria | Money

Syrian President Bashar Assad Will be Face of New Bank Note

Syrian President Bashar Assad Will be Face of New Bank Note

Sunday, 02 July 2017 01:37 PM

BEIRUT (AP) — A new 2,000 Syrian Lira ($3.9) bank note with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.

The notes are the first time Syria will depict President Bashar Assad on its currency since he took office 17 years ago.

Assad's face appears on the new banknotes at a time when his government is boasting military successes against the armed rebellion across the country. The currency previously only carried images of historic icons or pictures of his father, Hafez Assad.

Central Bank Governor Duraid Durgham said the new bank notes will go into circulation starting Sunday "due to the wear and tear" affecting currency currently in circulation.

Syria's currency has crashed as the country's seven-year-long war rages on. Trading at 47 liras to the dollar in 2011, it's currently going for 517 liras to the dollar.

Inflation has also soared, reaching an all-time high in 2013, at over 120 percent. Estimates in 2016 put the inflation rate at 50 percent.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
MiddleEast
A new 2,000 Syrian Lira ($3.9) bank note with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.The notes are the first time Syria will depict President Bashar Assad on its currency since he took office 17 years...
APFN,ML,Syria,Money
169
2017-37-02
Sunday, 02 July 2017 01:37 PM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved