The #Syrian #Pound has reversed some of its recent losses, with the exchange #rate hovering at around 2,250 SYP per #USD . A long way still from recovering losses since January when it traded for 1,000 per USD /1

Less clear though are the reasons behind the pound& #39;s strong showing despite both recent political and economic blows suffered by the #Assad regime after #CaesarAct came into effect in mid June /2

Some suspect a covert deal was struck with #iran or #russia to funnel money to shore up reserves of foreign currency, which seems unlikely given the current dire state of their respective economies /3

Others attribute it to a recent measure taken by the central bank to offer a lucrative interest rate of 3.5% on deposits and transfers made in foreign currencies /4

What makes it all the more weird is the continued collapse of both the Lebanese pound and Iranian Rial thought by many to be the same domino fallout from Iran& #39;s regime being unable to bail out allies in the region 5/5