Syria begins circulating new post-Assad currency bills

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Syria begins circulating new post-Assad currency bills

2026-01-03 21:32 Last Updated At：21:40

DAMASCUS, Syria (AP) — Syria started the process of circulating new currency bills on Saturday as the crisis-hit nation seeks to stabilize the economy as it recovers from the fall of Bashar Assad’s government.

A decree issued earlier this week by President Ahmad al-Sharaa said that “old Syrian currency” will be gradually withdrawn from circulation according to a timetable set by the central bank and through designated exchange centers.

Central Bank Governor Mokhles Nazer posted on X that after months of preparations, the exchange of old Syrian pounds with new banknotes officially began Saturday morning.

The presidential decree posted on the SANA state news agency stipulates that "new Syrian currency” will be issued by removing two zeros from the nominal value of the old currency. It means every 100 Syrian pounds of the old currency will now equate to one Syrian pound.

The largest denomination of the old currency was 5,000 Syrian pound, while under the new currency it is 500 pounds.

The U.S. dollar was selling at exchange shops in Damascus on Saturday for 11,800 pounds for the old banknotes, some of which bear the images of Assad and his late father and predecessor, Hafez Assad.

At the start of Syria’s conflict in mid-March 2011, the U.S. dollar was worth 47 Syrian pounds.

Since insurgent groups led by al-Sharaa’s Hayat Tahrir al-Sham marched into Damascus in December 2024 to end the Assad family's 54-year rule, work has been ongoing by the country’s new authorities to improve the economy battered by years of war and Western sanctions.

The U.S. and the European Union have removed most of the sanctions imposed on Syria during Assad’s rule.

From cricket’s capital to Olympic ambitions, India’s next play on the world sports stage

NEW DELHI (AP) — With a massive population, a rapidly growing economy and already the global powerbroker in cricket, India is preparing to expand its influence in international sport.

The 2030 Commonwealth Games are already locked in for Ahmedabad, and there's high expectations for India's bid to host the 2036 Olympics.

Prime Minister Narendra Modi has envisioned a developed India by 2047, and the government is focused on improving living standards, transport infrastructure, education and becoming a global hub for tech and innovation.

And that's the bedrock of India’s aspirations for the Olympics and beyond.

“India today reflects a confident and aspirational mindset, ready to lead and shape the future of global sport,” Dr. Mansukh Mandaviya, Union Minister of Youth Affairs and Sports, said in an interview with The Associated Press. “Our growing capability to host major international sporting events is a testament to how far we've progressed.

“At the same time, our athletes continue to make the nation proud, signaling the steady rise of India as a formidable sporting force.”

On Thursday, Mandaviya was due to preside over a national sports conclave in Delhi, where India’s preparedness for the 2026 Asian Games and Commonweath Games, as well as the 2028 Olympics in Los Angeles, will be measured.

Discussion topics also included compliance to the National Sports Governance Act that was introduced last year, pertaining to transparency of national sports federations, and the hosting of and participation in international events.

So far in 2026, India has hosted three high-profile cricket events — the men’s Twenty20 World Cup, the Women’s Premier League and currently the Indian Premier League, one of the richest and most followed franchise leagues in international sport.

New Delhi is hosting the badminton world championships, Bhubaneshwar is slated to host a World Athletics Continental Tour meet and Ahmedabad is set to host the Asian weightlifting championships.

Indian authorities are also considering ways of bringing Formula 1 back to the country for the first time since 2013. Influential sports officials have already helped get cricket back into the Olympics for Los Angeles in 2028.

Outside of cricket, the Commonwealth Games are the biggest barometer for India’s developing sport story.

New Delhi hosted the Asian Games in 1982 and 1951, and also the 2010 Commonwealth Games that was fraught with logistics problems. Long delays in getting facilities ready and a list of scandals overshadowed the event.

Indian officials expect Ahmedabad to put those problems into the distant past. The Sardar Patel Sports Enclave is marked as a key hub for the 2030 Games, which bring together thousands of athletes from 74 Commonwealth nations and territories.

The complex also houses the biggest cricket stadium in the world – the Narendra Modi Stadium – and it can be optimized to host different sports.

But this is a tale growing beyond infrastructure alone. There is a genuine push toward attaining success on the field as well, and sustained efforts have been made over the past decade to develop a robust sports ecosystem.

There are more than fifteen professional leagues across sports actively nurturing talent and creating future opportunities.

The Sports Authority of India has established sports-specific centers of excellence across the country, designed to provide world-class infrastructure and scientific training with the aim of producing Olympic and international medalists.

The results are showing – India recorded its best-ever showing at the Asian Games with 107 medals in the last edition staged in 2023. It won the Thomas Cup (badminton) in 2022, a first squash World Cup title, earned 29 medals — including seven gold — at the 2024 Paralympics in Paris, and 20 medals at the World Boxing Cup finals.

Olympic and world champion javelin thrower Neeraj Chopra is among the standout individual performers.

Sports backers say the individual success stories matter in sending out a message of fitness and participation through society.

Hari Ranjan Rao, Sports Secretary, Government of India, said while the infrastructure is put in place, “we are also working on our messaging.”

The Khelo India — or Play India — program has grown since 2018 at the youth and university level, winter and para games, beach and water sports, and even tribal games.

“The aim is to draw out the masses into an active lifestyle,” Rao said, “As well as into participation.”

And with extra participation, India is hoping for greater success.

“As we prepare to host the 2030 Commonwealth Games and advance our bid for the 2036 Olympic Games, India stands ready to take center stage,” Mandaviya said. “We are determined to emerge as a global sporting powerhouse, both in producing champions and in hosting world class events.”

AP sports: https://apnews.com/sports