Syria to Swap Old Cash for New in Nationwide Exchange

Syria will begin a nationwide exchange of old banknotes for new currency on January 1. The announcement was made by the country's Central Bank Governor, Abdelkader Husrieh. The process will use 66 companies and 1,000 special outlets across Syria. Governor Husrieh described the exchange as "flexible" in a television interview. The move replaces existing Syrian pound notes with newly designed versions. Officials have not stated a final deadline for the exchange.