Assad's Photo Appears On New Syrian Banknote

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English edition of Asharq Al-Awsat - the world's premier pan-Arab daily.

The new 2,000 pound banknote, which went into circulation on Sunday, is the first in Syria to feature the image of the current president al-Assad as reported by state news agency Sana.

Central bank Governor Duraid Dargham explained that the new banknote was put into circulation in the capital and several provinces.

Central Bank Governor Duraid Durgham said the new bank notes will go into circulation starting Sunday "due to the wear and tear" affecting currency now in circulation. Previously, the highest denomination of banknote in Syria was 1,000 pounds.

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The largest bill in circulation had been the 1,000 Syrian pound note, which featured Syria's former president and Bashar's late father, Hafez al-Assad. It was replaced by a newly-designed one, but it was poorly received by pro-regime figures so the old one was re-released.

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The value of the Syrian pound has plummeted over the course of the country's war, depreciating by around 90 percent against the USA dollar since the conflict erupted in March 2011.

At the current exchange rates, the 2,000 pound note is equal to approximately $4 Dollars.

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