Compared to the period right before Assad’s downfall, the Syrian pound has appreciated by over 15%.
Our decomposition of the events and volatility, however, shows that political announcements repeatedly triggered sharp, optimism-driven appreciations in the SYP, followed by slow but persistent reversals driven by economic fundamentals.
So what are the fundamentals at play and what do they tells us about the outlook for the pound in 2026?
Read our latest in Syria in Figures.