A new 2,000 Syrian Lira ($3.9) bank note with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.

The notes are the first time Syria will depict President Bashar Assad on its currency since he took office 17 years ago.

Assad's face appears on the new banknotes at a time when his government is boasting military successes against the armed rebellion across the country. The currency previously only carried images of historic icons or pictures of his father, Hafez Assad.

Central Bank Governor Duraid Durgham said the new bank notes will go into circulation starting Sunday "due to the wear and tear" affecting currency currently in circulation.

Syria's currency has crashed as the country's seven-year-long war rages on. Trading at 47 liras to the dollar in 2011, it's currently going for 517 liras to the dollar.

Inflation has also soared, reaching an all-time high in 2013, at over 120 percent. Estimates in 2016 put the inflation rate at 50 percent.</s>The Syrian Central Bank has released the war-ravaged country's largest currency note yet, featuring the face of President Bashar al-Assad for the first time.

The new 2,000 pound note went into circulation in several regions including the capital Damascus on Sunday, according to Central Bank governor Duraid Dergham.

"Given the worn nature of the bills currently in circulation, the Central Bank saw that it was the appropriate time to release the 2,000 Syrian pound note," Dergham said, quoted by Syrian state news agency SANA.

The bill features a portrait of Assad on one side and the inside of Syria's parliament on the other.

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

The 2,000 pound note is currently worth approximately $4.

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.

Reactions to the bill have ranged from expressions of support to concerns that it could spark further inflation.

But Dergham sought to reassure the public.

"There is no need to panic over this matter," he told reporters gathered in Damascus.</s>The 2,000-pound note was printed years ago, Central bank governor Duraid Durgham said, but the decision to put it into circulation was delayed "due to the circumstances of the war and exchange rate fluctuations".

Syrian President Bashar al-Assad has appeared on the Syrian currency for the first time since he assumed office after succeeding his father in 2000. His portrait was printed on a new 2,000-pound banknote that went into circulationThe state news agency SANA reported that Durgham cited wear and tear of the existing notes as an indication that the time was right to put the new note into circulation. The new note is equal to around $3.9 at current exchange rates. Since the country's conflict started in 2011, the Syrian pound has plunged in value . It was 47 pounds to a dollar in 2010 but at present, it is now around 500 pounds to the dollar.Prior to circulating the newly printed 2,000-pound note, the highest denomination of Syrian banknote was 1,000 pounds and the currency previously only carried images of historic icons. Assad's father, the late President Hafez al-Assad who died in 2000, appeared on coins and on an older version of the 1,000 pound note, which is still in circulation.Durgham said the new note featuring Assad's portrait was put into circulation "in Damascus and a number of the provinces".</s>The face of Syrian President Bashar al-Assad will grace Syria’s newest banknote.

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The 2,000-pound note is equal to approximately US$4 and will go into circulation on Sunday, the Syrian central bank announced. Central bank governor Duraid Durgham said the note was one of multiple new notes printed years ago, but putting it into circulation was delayed “due to the circumstances of the war and exchange rate fluctuations.”

Durgham said that due to wear and tear of the existing notes, the time was right to put the new note into circulation, the state news agency SANA reported.

These notes mark the first time Assad’s face will appear on a banknote since he took office 17 years ago. Previously, the highest denomination of banknote in Syria was 1,000 pounds. Assad’s father, the late president Hafez al-Assad who died in the year 2000, appeared on many types of Syrian currency including coins and an older version of the 1,000-pound banknote.

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The Syrian currency has decreased in value since the civil war in the country began in 2011. In 2010, Syrian pound was worth approximately 47 pounds to the dollar compared to the pound’s present worth at 500 pounds to the dollar.

In addition, inflation has skyrocketed, reaching a high of over 120 per cent in 2013. In 2016, it was estimated that the inflation rate sat around 50 per cent.

Durgham said the new note was put into circulation “in Damascus and a number of the provinces.”

The Syrian conflict has resulted in the deaths of hundreds of thousands of people. Assad has largely enjoyed direct military support from his Russian and Iranian allies. On Sunday, U.S.-backed Syrian fighters claim to have received reinforcements to boost their ranks as they maintain pressure on the Islamic State militants in Raqqa city.

Bashar al-Assad has been in power for 17 years after his father died of a heart attack in 2000 after 29 years in office. BBC reports that had it not been for the death of his older brother in a car accident in 1994, who had been groomed to succeed his father, Assad may have never ascended to such political heights.

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Assad has often been at odds with American leaders, and most recently, has been accused by many U.S. leaders of orchestrating a chemical attack on a Syrian town this past April.

— With files from the Associated Press and Reuters</s>The ... . In this photo released by the Syrian official news agency SANA, a man displays a new bank note of 2,000 Syrian Lira, , during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017.... BEIRUT - A new 2,000 Syrian Lira bank note with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.

Start the conversation, or Read more at KAUZ.</s>BEIRUT (AP) - A new 2,000 Syrian Lira ($3.9) bank note with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.

The notes are the first time Syria will depict President Bashar Assad on its currency since he took office 17 years ago.

Assad's face appears on the new banknotes at a time when his government is boasting military successes against the armed rebellion across the country. The currency previously only carried images of historic icons or pictures of his father, Hafez Assad.

In this photo released by the Syrian official news agency SANA, the new bank note of 2,000 Syrian Lira, ($3.9), is seen during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017. The notes are the first time the face of President Bashar Assad appears on the Syrian currency since he took office 17 years ago. (SANA via AP)

Central Bank Governor Duraid Durgham said the new bank notes will go into circulation starting Sunday "due to the wear and tear" affecting currency currently in circulation.

Syria's currency has crashed as the country's seven-year-long war rages on. Trading at 47 liras to the dollar in 2011, it's currently going for 517 liras to the dollar.

Inflation has also soared, reaching an all-time high in 2013, at over 120 percent. Estimates in 2016 put the inflation rate at 50 percent.

In this photo released by the Syrian official news agency SANA, a man displays a new bank note of 2,000 Syrian Lira, ($3.9), during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017. The notes are the first time the face of President Bashar Assad appears on the Syrian currency since he took office 17 years ago. (SANA via AP)</s>In this photo released by the Syrian official news agency SANA, a man displays a new bank note of 2,000 Syrian Lira, ($3.9), during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017. The notes are the first time the face of President Bashar Assad appears on the Syrian currency since he took office 17 years ago. (SANA via AP)

BEIRUT: A new 2,000 Syrian Lira ($3.9) banknote with the face of President Bashar Assad will go into circulation Sunday, the Syrian Central Bank announced.

The notes are the first time Syria will depict President Bashar Assad on its currency since he took office 17 years ago.

Assad's face appears on the new banknotes at a time when his government is boasting military successes against the armed rebellion across the country. The currency previously only carried images of historic icons or pictures of his father, Hafez Assad.

Central Bank Governor Duraid Durgham said the new banknotes will go into circulation starting Sunday "due to the wear and tear" affecting currency currently in circulation.

Syria's currency has crashed as the country's seven-year-long war rages on. Trading at 47 liras to the dollar in 2011, it's currently going for 517 liras to the dollar.

Inflation has also soared, reaching an all-time high in 2013, at over 120 percent. Estimates in 2016 put the inflation rate at 50 percent.</s>In this photo released by the Syrian official news agency SANA, the new bank note of 2,000 Syrian Lira, , is seen during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017. The notes are the first time the face of President Bashar Assad appears on the Syrian currency since he took office 17 years ago.

Start the conversation, or Read more at Daily Herald.</s>(AP) – The Syrian Central Bank has announced that a new 2,000 Syrian Lira bank note ($3.9) will go into circulation. The notes are the first time the face of President Bashar Assad appears on the Syrian currency since he took office 17 years ago.

Assad’s face appears on the new banknotes at a time when his government is boasting military successes against the armed rebellion around Syria. The currency previously only carried images of historic icons or pictures of his father, Hafez Assad.

Central Bank Governor Duraid Durgham said the new bank notes will go into circulation starting Sunday “due to the wear and tear” affecting currency currently in circulation. Syria’s currency has crashed as the country’s seven-year-long war rages on. Trading at 47 liras to the dollar in 2011, it’s currently going for 517 liras to the dollar.</s>A portrait of Syria's President Bashar al-Assad is seen printed on the new Syrian 2,000-pound banknote that went into circulation on Sunday, in this handout picture provided by SANA on July 2, 2017, Syria. SANA/Handout via REUTERS

BEIRUT (Reuters) - President Bashar al-Assad has appeared on the Syrian currency for the first time, his portrait printed on a new 2,000-pound banknote that went into circulation on Sunday.

Central bank governor Duraid Durgham said the 2,000-pound note was one of several new notes printed years ago but the decision to put it into circulation was delayed "due to the circumstances of the war and exchange rate fluctuations".

The new note is equal to around $4 at current exchange rates. The currency has plunged in value since the conflict began in 2011, from 47 pounds to the dollar in 2010 to around 500 pounds to the dollar at present.

Citing wear and tear of the existing notes, Durgham said the time was right to put the new note into circulation, the state news agency SANA reported.

Previously, the highest denomination of Syrian banknote was 1,000 pounds. Assad's father, the late President Hafez al-Assad who died in 2000, appeared on coins and on an older version of the 1,000 pound note, which is still in circulation.

Durgham said the new note was put into circulation "in Damascus and a number of the provinces".

After years of war estimated to have killed hundreds of thousands of people, Assad appears militarily unassailable thanks in large part to direct military support from his allies Russia and Iran.
The Central Bank of Syria announces a new 2,000 Syrian lira (pound) bank note that will feature a portrait of President Bashar al-Assad, the President's first appearance on Syrian currency during his 17-years in office.