The New Syrian Currency: Observations on the Ground

An improvement in living standards?

𐌹t has now been six months or so since the Syrian government introduced a new version of the Syrian pound: essentially a re-domination of the currency under the Assad regime that removes two zeros. For example, 5000 old Syrian pounds (the highest monetary note under the old regime, featuring on one side a Syrian soldier saluting next to the old Syrian flag) would equal 50 Syrian pounds under the new currency. Meanwhile, the highest monetary note under the new government is 500 Syrian pounds, equivalent to 50000 Syrian pounds under the old regime.

But what do transactions look like on the ground? Moreover, has the re-denomination led to any improvement in people’s daily lives?