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Syria’s currency crisis is reportedly worsening, with the Syrian Pound closing on 300:1 vs. the US dollar in unofficial trading.

The rate is the lowest for the Pound, which stood at 50:1 vs. the dollar before the uprising of March 2011, since US military intervention was feared after the Assad regime’s chemical weapons attacks in August 2013.

Officially, the rate is still being posted at about 189:1, but an effective level of 270:1 was reported two weeks ago and the decline has continued amid worries over the Government’s financial ability to deliver supplies and basic services.

Last week, the Central Bank tried to shore up reserves by ordering exporters to sell all foreign currency to the Government.

Opposition websites claim that customs and intelligence officers are now conducting surprise inspections of Damascus’ commercial markets, searching for any foreign currency still held by merchants.

“Residents in Damascus’ neighborhoods have noticed disquieting activity by security patrols and movable military checkpoints over the last few days. This activity has developed into organized raids on houses and commercial enterprises,” the report asserted.

The Assad regime has increasingly depended on Russian and Iranian assistance to prop up its reserves during the conflict; however, Tehran has appeared hesitant over extension of a $3.6 billion line of credit arranged in July 2013.

Assad: French Intelligence in Contact with Syrian Counterparts

President Assad has said that French intelligence services are in contact with their Syrian counterparts.

In an interview with France 2 TV, Assad said, “There are some contacts but there’s no co-operation.” He also said there had been no exchange of information.

In January 2014, Western and Middle Eastern officials said that European intelligence agencies secretly met with Syrian officials to share information on at least 1,200 European fighters in Syria.

In the interview, Assad again denied that his forces use barrel bombs. He accused France of “supporting terrorists who kill Syrian citizens”.

Regime Launches Offensive on Busra al-Harir in Daraa Province

Syrian forces have launched a major attack on the town of Busra al-Harir in Daraa Province in southern Syria.

The assault reportedly began with hundreds of artillery shells before troops tried to move into the town.

Rebels are said to have counter-attacked the regime position at Qarfa to relieve pressure on Busra al-Harir.

The Syrian military claimed that it had “established full control” over nearby villages to cordon off Busra al-Harir, cutting off rebel supply lines between Daraa and Suweida Provinces.

However, activists on social media are posting photographs of slain and captured regime troops and claiming that several Syrian tanks have been destroyed and seized.

The rebel faction Liwa al-Muhajireen wal-Ansar in Busra al-Harir destroys a regime tank with a French Milan anti-tank guided missile:

The town, held by the opposition since 2012, is northeast of Daraa city and northwest of Suwayda.

See also Syria Analysis: The Druze Face the Islamic State’s Expansion in the South — What Next?

Rebels on the battlefield:

Reinforcements moving to Busra al-Harir:

Report: Islamic State Renews Attacks on Regime in Eastern Hama Province

The pro-Assad al-Masdar News reports that the Islamic State has launched another attack on regime positions in the al-Salamiyah district of eastern Hama Province.

The assault is the third assault by the militants on Syrian forces in the area in the past month. The two previous offensives reportedly killed scores of Syrian troops and militia, and claims circulated that the Islamic State also carried out mass killing of civilians in villages such as Sheikh Helal.

In the latest attacks, the militants struck the villages of Sheikh Hilaal, ‘Aqarab, and Al-Masheerfat. Al-Masdar News acknowledges that the Islamic State broke through “front-line defenses” to enter the villages, killing 34 militiamen and six civilians.

The site claims, from a “military source”, that 60 to 100 Islamic State fighters were killed.