2019-01-18 Fri

On 26th December 2018, Syria introduced new 50-pound circulation coins to replace banknotes bearing the same denomination. The latest 50-pound banknote in circulation was released in 2010 and it is a part of a new series of banknotes from Syria. 500 and 1,000-pound notes were added to this series in 2013 while 2,000-pound notes were issued in 2017.

The 50-pound coins were issued due to rising inflation in the country. Not much can be purchased for less than 50 Syrian pounds. Apart from that, 50-pound banknotes have a short life of 6 months while coins can last for over 25 years. The new 50-pound coin would now be the smallest circulating denomination as 5, 10, and 25-pound coins are rarely used for day to day transactions. The Central Bank claims that a large number of coins have been released as per the growing demand.

National insignia of the Syrian Arab Republic, the eagle symbol, a shield and year dates, 2018 and 1431 in Arabic numerals are featured on the obverse side of the coin. The reverse side of the nickel-coloured coin features the Tomb of the Unknown Soldier, text 50 SYP and its Arabic translation, text FIFTY SYRIAN POUNDS and its Arabic translation.

Image Courtesy: Google Images