Editing Syrian pound (section)

=== Syrian Civil War ===
[[File:Monthly Averages of Official USD-SYP Exchange Rates.jpg|Monthly averages of Official USD:SYP Exchange rate from January 2011 to July 2016|right|thumb]]

There was a [[capital flight]] to nearby countries, including [[Lebanon]], [[Jordan]], [[Egypt]] and [[Turkey]], as a result of the [[Syrian Civil War]] that started in 2011. In addition, Syria has been subject to sanctions imposed by the [[United States]], the [[European Union]] and other countries, which shut Syria out of the global financial system. To circumvent the sanctions, Syrians effected foreign transactions through banks in neighbouring countries, especially Lebanon.<ref name= reuters29niv19>{{cite web|url=https://www.reuters.com/article/us-syria-economy-lebanon/lebanon-crisis-wreaks-havoc-on-syrias-war-torn-economy-idUSKBN1Y31I7|title=Lebanon crisis wreaks havoc on Syria's war-torn economy|website=Reuters|date=29 November 2019}}</ref> As a result, the official exchange rate has deteriorated significantly, falling from LS&nbsp;47 = US$1 in March 2011<ref>{{cite web |url= http://www.banquecentrale.gov.sy/forex/forex-ar/FX-2011.xls|script-title=ar:أرشيف أسعار العملات الأجنبية عام 2011|year= 2011|publisher= [[Central Bank of Syria]]|access-date= 27 September 2016| format =XLS|language=Arabic}}</ref> to LS&nbsp;515 = US$1 in July 2017 and 7500 = US$1 in April 2023 (after the [[Lebanese liquidity crisis]])

On 31 October 2019, Syrian President [[Bashar al-Assad]] mentioned in an interview that liberating territories had complex economic consequences. While it removed foreign-funded support for terrorists, it also cut off dollar inflows that stabilize local economies:
{{blockquote|text=One factor which people are not aware of, is that the liberation of an area does not necessarily serve the Syrian pound, because by liberating an area, we are removing its access to dollars which were paid to the terrorists to cover their needs and expenses. This is one of the tools we benefited from. I mean that things are not absolute, and we cannot say that terrorists were serving us in this regard. Not every positive step has a positive impact. That is why I am saying that the issue is complicated.|source=Bashar Al-Assad<ref>{{cite news|url=https://sana.sy/en/?p=177331|title=President al-Assad's interview given to al-Sourya and al-Ikhbarya TVs|newspaper=Syrian Arab News Agency|date=31 October 2019}}</ref>}}

Following the [[fall of the Assad regime]] at the end of 2024, [[Ahmed al-Sharaa]], president of the [[Syrian caretaker government|Syrian transitional government]], stated that he intends to replace the Syrian pound with a new currency once it re-stabilizes.<ref>{{Cite web |title=أحمد الشرع يحدد أبرز أولوياته الداخلية في سوريا.. ومن بينها قرارات اقتصادية |url=https://www.cnbcarabia.com/131984/2024/19/12/%D8%A3%D8%AD%D9%85%D8%AF-%D8%A7%D9%84%D8%B4%D8%B1%D8%B9-%D9%8A%D8%AD%D8%AF%D8%AF-%D8%A3%D8%A8%D8%B1%D8%B2-%D8%A3%D9%88%D9%84%D9%88%D9%8A%D8%A7%D8%AA%D9%87-%D8%A7%D9%84%D8%AF%D8%A7%D8%AE%D9%84%D9%8A%D8%A9-%D9%81%D9%8A-%D8%B3%D9%88%D8%B1%D9%8A%D8%A7..-%D9%88%D9%85%D9%86-%D8%A8%D9%8A%D9%86%D9%87%D8%A7-%D9%82%D8%B1%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9 |access-date=31 January 2025 |website=CNBC Arabia |language=ar}}</ref>