Derik Faces Shortage of New Syrian Currency as Exchange of Old Banknotes Stalls

Welat TV – Erbil

Derik, like other Kurdish-majority cities in northeastern Syria, is facing growing difficulties in exchanging old Syrian banknotes due to a shortage of the newly issued currency, disrupting commercial activity and fueling public frustration.

Residents say the lack of clear procedures and designated exchange centers has compounded the problem, as many shops and exchange offices have stopped accepting older banknotes, particularly the 1,000 and 500 Syrian pound denominations.

Refusal to Accept Old Notes Creates Confusion

Speaking to Welat TV, local resident Hevan Youssef said people have received no clear guidance on how or where to exchange their old currency in Derik. He noted that many businesses and currency exchange offices no longer accept the old 1,000 and 500 Syrian pound notes.

Youssef called for an official announcement outlining the exchange mechanism, adding that social media campaigns urging people to stop using old banknotes have further increased confusion among residents.

Calls for Official Exchange Centers

Another resident, Hussein Baju, said responsibility for resolving the issue lies with the relevant authorities, urging them to establish a clear mechanism for withdrawing and replacing the old currency.

He said some businesses have already stopped accepting the 1,000-pound note, raising concerns over what residents are expected to do with the old banknotes they still possess in the absence of local exchange facilities.

Baju called for the opening of official exchange centers and government offices in the area to simplify the process and ease the burden on residents.

Exchange Offices Cite Lack of Official Facilities

Idris Abdulrahman, owner of a currency exchange office in Derik, told Welat TV that exchange offices have stopped accepting certain old banknotes because no official exchange centers have yet been established. He also pointed to a shortage of the new currency, saying the quantities arriving from Damascus remain limited and insufficient to meet local demand.

Abdulrahman said exchange offices are awaiting the opening of facilities such as post offices and a branch of the Central Bank of Syria to facilitate the exchange process, stressing that resolving the crisis requires intervention from the authorities.

Deadline Extension Fails to Resolve Problems in Remote Areas

The original deadline for exchanging old Syrian banknotes expired across much of the country, prompting protests from residents who were unable to replace their cash.

The Central Bank of Syria later extended the exchange deadline until Aug. 20 in Hasakah, Raqqa, and Deir ez-Zor provinces in an effort to ease the crisis and provide additional time for residents.

Despite the extension, Derik and several other Kurdish-majority cities continue to face shortages of the new currency, with residents calling on the authorities to increase its availability and implement practical solutions to ensure the smooth conduct of everyday financial transactions.