Syria Launches New Banknotes in Major Currency Move

Syria has begun official trading of new banknotes, the country's central bank announced Saturday. The launch follows months of preparation. Since early morning, representatives from private banks and exchange companies gathered at central bank branches across the country's provinces to obtain the new currency. First Vice Governor Mokhles al-Nazer made the announcement. The move is a significant change to Syria's monetary system. No reason for the currency change was given in the announcement. The new notes are now in circulation.