Article: “The Central Bank of Syria announces developments regarding the replacement of the Syrian pound and the date for activating its account with the US Federal Reserve” Quote: “The Governor of the Central Bank of Syria, Abdul Qader al-Hasriya, confirmed that Syria’s account at the US Federal Reserve Bank is now ready and operational and will be activated soon, following intensive efforts that began last July as part of Syria’s reintegration into the global financial system…the announcement of the reactivation of the account was met with a direct welcome from the US Treasury Department and the US Presidential Envoy, who described the move as historic …Having an active account at the US Federal Reserve Bank allows Syria to return to the correspondent banking system…Regarding the replacement of the new currency…about 40% of the circulating cash mass of 42 trillion old Syrian pounds has been replaced…noting that the process is proceeding smoothly and is expected to accelerate after Eid al-Fitr.” :Clare
