For the first time, Syria is offering a banknote of the 5000 denomination for circulation

by **claud39** Sun Jan 24, 2021 5:31 pm

For the first time, Syria is offering a banknote of the 5000 denomination for circulation

2021-01-24

For the first time, Syria is offering a banknote of the 5000 denomination for circulation 1611506515339

Shafaq News / The Central Bank of Syria issued today, Sunday, the 5000 Syrian Pounds denomination "for the first time" in the country two years ago.

In a post on its official Facebook page, the bank said in a statement, “Based on the role of the Central Bank in monitoring the market and securing its needs of all denominations of banknotes, and based on studies it carried out during previous years and its development of a plan to ensure the needs of cash circulation of all categories, The need for a class of cash greater than the current circulating classes with a value commensurate with the needs of cash trading.

He added that "two years ago, he printed 5000 Syrian pounds of banknotes, to meet the expectations of the actual trading needs of banknotes, to ensure facilitation in cash transactions, reduce their costs and contribute to countering the effects of inflation that occurred during the past years in addition to reducing the intensity of paperwork." Cash, due to high prices during the years of war and the unfair siege on our beloved country and the phase-out of damaged banknotes, especially since wear has increased recently. "

He explained, "Accordingly, the Central Bank of Syria found that the time has become appropriate, according to the current economic variables, to introduce the new cash category, thus adding a new currency denomination that will be traded side by side with the rest of the cash denominations currently in circulation as of 01/24/2021." .

And the bank, in its publication, clarified and explained how to detect the new real currency in order to prevent counterfeiting.

It is noteworthy that the Central Bank of Syria several years ago printed new banknotes and put them in circulation in denominations (50 - 100 - 200 - 500 - 1000 - 2000) Syrian pounds, where the banknotes of the category (2000) SP were printed in 2015 and it was done Putting it into circulation in the second half of 2017 when the Central Bank sensed the actual market need for the 2000 SP denomination

Syria is going through a bad economic situation, and a great cost of living under the American blockade on it, accompanied by the high price of the US dollar compared to the pound, as its price on the black market has become about 2,800 pounds per dollar.

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