Syrian Currency Replacement Chaos
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Insights by Echo AI
Syrian markets are in disarray as the deadline for replacing old banknotes approaches. The Central Bank of Syria has set tomorrow, Friday, as the final day for exchanging old currency. Heavy congestion and confusion have been reported at currency exchange centers, with individuals and traders expressing frustration over the refusal to accept old notes before the deadline. Despite the old notes losing their status as legal tender from July 31, they will remain exchangeable through mechanisms determined by the Central Bank for five years but will not be used for buying and selling after the deadline.
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