New Syrian metallic coins are in circulation

The Central Bank of Syria is to put into circulation new coins starting from August 28 to meet citizens demands and the public interest. The new currency of 25, 10, 5 Syrian pound denominations will be distributed side by side with the currently circulated coins of the same denominations, Governor of Central Bank of Syria Mohammed Bashar Kabara announced Wednesday.

In a press conference, Kabara said that the metallic coins have been made according to the international specifications and were similar to the currently circulated currency in the markets, but differed slightly in the weight. "The new currency is distinguished by high quality of the metallic mixtures and modern security guarantees to protect it from forgery," he said.

He added that the new currency has tiny, engraved writings on the toothed frame for the coin, which would make its falsification difficult.

" The three denominations meet the needs of the local markets for the 3 to 4 upcoming years. This step comes in the framework of meeting the increasing request of the citizens to own money of small categories, due to the demographic growth and the big expansion of establishments trade and services activities," the Governor said.

He pointed out that the increase in demand for small categories reflected the power of the Syrian currency and its stable purchasing value, as well as the success of the monetary policy of the Central Bank, which created a monetary stability in the country and enhanced the value of the national currency.