Timeline

• 12.04.1920
• Royal decree on the introduction of the Syrian Dinar as currency of the (Hashemite) Kingdom of Syria; effective immediately.
  - The Dinar corresponded to 20 French Francs in gold (5'806.45mg AU fine), additionally a silver subsidiary coin of 25 Piasters = ¼ Dinar was foreseen at 25 grams Silver 0.800.
  - No coins were produced due to the defeat against the French; a few presentation pieces exist, probably made afterwards.

Timeline

• 02.01.1919
• French seizure of the Ottoman Bank in Damascus and name change into "Bank of Syria"
• 01.08.1919
• Start of issuance of banknotes by Bank of Syria
• 13.03.1920
• High Commissionar's ordinance [No. 129] on the creation of a distinct currency for the French possessions in the Levant; effective 01.05.1920 (by HC's ordinance [No. 195] of 26.04.1920)
• 01.05.1920
• Start of currency exchange:
  - 01.05.1920: Start of issuance of subsidiary coins and nominal legal tender status of the notes of the Bank of Syria
  - ??.??.1920: Demonetization of the Egyptian currency.
• 23.01.1924
• Convention between the French, Syrian and Lebanese governments on a 15-years' concession for the renamed "Bank of Syria and Greater Lebanon" on the issuance of a common currency; effective 01.04.1924

Valuation Regimes

• 1920-1939
• Fixed rate against French Franc (1803)

Timeline

• 25.02.1938
• Convention between the French and Syrian governments on a 25-years' concession for the renamed "Bank of Syria and Lebanon" on the issuance of a Syrian currency (extending the 1924 convention); was not ratified:
  - 29.03.1939: French High Commissioner's decree [No. 49/LR] to extend the 1924 convention by 25 years; effective 01.04.1939
  - 09.09.1939: French High Commissioner's decree and bank resolution to adopt the 1938 draft convention; effective 01.01.1940.
• 01.04.1939
• Start of currency exchange:
  - 01.04.1939: Start of overprinting of the pre-1937 banknotes with "Syria" (in French and Arabic)
  - 31.12.1939: Demonetization of the banknotes without overprint
  - 02.02.1948: Demonetization of the Lebanese currency.
• 08.02.1949
• Agreement between France and Syria on Syria's leave of the Franc zone (de facto already done on 31.01.1948); effective immediately
• 1950-1955
• Issuance of paper money by the interimistic Currency Institute of Syria (under control of the Ministry of Finance) after the de facto suspension of the Bank of Syria and Lebanon following the 1949 agreement and the constitution of the central bank.
• 28.03.1953
• Central bank law [No. 87] on the establishment of the Central Bank of Syria; effective upon constitution of the bank on 01.08.1956:
  - 01.09.1955: Convention between Syria and the Bank of Syria and Lebanon on the termination of the 1939 concession.

Valuation Regimes

• 1939-1941
• Fixed rate against French Franc (1803)
• 1941-1947
• Fixed rate against British Pound during the German occupation of France:
  - 19.03.1941: Monetary agreement between Great Britain and the French government-in-exile
  - 12.11.1941: Ordinance of the Delegate of Free France in the Levant
  - 25.01.1944: Monetary agreement between Great Britain, the French government-in-exile, Lebanon and Syria ("Accord Catroux").
• 1947-1988
• Fixed rate against US Dollar. The official rate became inoperative on 12.08.1948 and was replaced by a multi-tier system.
• 1988-
• Variable rate, highly inflationary after 2011