I shared a few thoughts with @Levant_24_ about why I think the Syrian pound continues to depreciate despite sanctions relief, major investment announcements, reconstruction pledges, and the currency's redenomination. levant24.com/economy/2026/06… In a few lines, I explained that the SYP’s continued decline is not necessarily a paradox. Sanctions relief and political openings have improved expectations faster than they have improved Syria’s underlying economic fundamentals. The country still faces a severe foreign currency shortage, while imports remain high, exports remain weak, infrastructure is damaged, and the banking system is not yet fully reintegrated internationally. Investment announcements and reconstruction commitments can help sentiment, but they do not support the currency until money actually enters the country, projects are financed, and implementation begins. The same applies to redenomination. It may simplify transactions and symbolically mark a new phase, but it does not by itself restore trust, generate exports, reduce import dependence, or bring in foreign currency. For Syria, the priority should be to avoid repeating past mistakes: defending an unrealistic exchange rate, relying on administrative controls, maintaining multiple exchange rates, monetizing deficits, or announcing spending increases without credible financing. What matters now is turning promises into capital... and prioritizing investments that generate or save foreign currency, especially in energy, agriculture, logistics, and export-oriented production.