History of Syrian Currencies (Syrian Pound)

Prof. Dr Moustafa El-abdallah Al Kafry

2022 / 9 / 6

History of Syrian Currencies (Syrian Pound)
The currency that is traded in the Syrian Arab Republic is the Syrian pound, divided into 20 francs and 100 Syrian piasters, the Central Bank of Syria is responsible for issuing the Syrian currency, symbolized by (LS and SŁ), the Syrian pound bears many names, due to the influence of Arabic, French, and English languages in the history of Syria, and when Syria gained its independence, it was the only country that wrote its coins in Arabic.
A banknote in the denomination of 100 Syrian pounds beautiful carpet, issued in 1945.
During the period when Syria was part of the Ottoman Empire, which lasted about 400 years, the Ottoman lira was its main currency. After the fall of the Ottoman Empire and the placement of Syria under the French Mandate, the Egyptian pound was traded in the territories under the French and British Mandates, as well as in Lebanon, Transjordan and Palestine. The French government sought to replace the Egyptian currency, granting the Bank of Syria (the French branch of the Ottoman Bank) the authority to issue currency to Syria and Lebanon under the French mandate.

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History of Syrian Currencies
History of Syrian Currencies (Syrian Pound)
Prof. Dr. Moustafa El-Abdallah Al Kafry

I – The Syrian pound during the Ottoman era: 3
II – Syrian pounds during the French Mandate over Syria and Lebanon: 6
III – Recognition of the Syrian-Lebanese currency by local governments, January 1924 Agreement: 9
IV – Elements of the coverage of the Syrian pound in the 1924 Convention: 10
V – Renewal of the concession for issuing currency in Lebanon to the Bank of Syria and Lebanon, February 1938 Convention: 11
VI – Compulsory and optional elements in the coverage of the Syrian pound, in accordance with the 1938 Convention: 12
1 – Elements of compulsory coverage: 12
2 – Optional Coverage Elements: 12

VII – Characteristics of the coverage of the Syrian pound in the 1924 and 1938 Conventions: 13
VIII – Differences between the 1924 and 1938 Conventions on the subject of Syrian pound coverage: 14
The amendments targeted several aspects, including: 15
IX – Peg of the Syrian Pound to the US Dollar: 16
X – The Syrian Pound in the Period of Monetary Independence in Syria: 17
XI – The separation of Syrian pound from Lebanese pound: 19
XII – Foreign Exchange Policy in Syria between the 1944 Convention and the 1949 Convention: 20
XIII – The Monetary and Credit Council and the Central Bank of Syria: 21
XIV – Syrian coins: 22

Modern Discussion