Jump to navigation Jump to search “SYP” redirects here. Before 1947, the word qirsh was spelled with the initial Arabic letter غ, after العملات الأجنبية the word began with ق. Until 1958, banknotes were issued with Arabic on the obverse and French on the reverse. After 1958, English has been used on the reverses, hence the three different names for this currency.
Coins used both Arabic and French until independence, then only Arabic. The standard abbreviation for the Syrian pound is SYP. On 5 December 2005, the selling rate quoted by the Commercial Bank of Syria was 48. 4 SYP to the US dollar. A rate of about 50 pounds to one dollar has been usual in the early 2000s, but the exchange rate is subject to fluctuations. This article needs additional citations for verification.
During the period when Syria was a part of the Ottoman Empire, which lasted about 400 years, the Ottoman lira was its main currency. 1919 and was pegged at a value of 20 French francs. In 1941, the peg to the French franc was replaced by a peg to the British pound of 8. 1 British pound, as a consequence of the occupation of Syria by British and Free French forces. This rate was based on the pre-war conversion rate between the franc and sterling. As a result of the Syrian Civil War, there has been a capital flight to nearby countries including Lebanon, Jordan, Egypt and Turkey.
1926 by aluminium bronze 2 and 5 qirsh. In 1929, holed, nickel-brass 1 qirsh and silver 10, 25 and 50 qirsha were introduced. These pieces were crudely produced and undated. 5 and 10 qirush struck in cupro-nickel and the others in silver.
Aluminium-bronze replaced cupro-nickel in 1960, with nickel replacing silver in 1968. In 1996, following high inflation, new coins were introduced in denominations of 1, 2, 5, 10 and 25 pounds, with the 25 pounds a bimetallic coin. In 2003 5, 10, and 25 pound coins were issued, with latent images. In 1919, the Banque de Syrie introduced notes for 5, 25 and 50 qirsha, 1 and 5 livres. These were followed, in 1920, by notes for 1 qirsh and 10, 25, 50 and 100 livres.