The Banque du Liban sets a new exchange rate for withdrawals...

The Banque du Liban sets a new exchange rate for withdrawals...
The Banque du Liban sets a new exchange rate for withdrawals...

Today, Thursday, the Central Bank of Lebanon announced setting a new exchange rate for withdrawals from dollar deposits in Lebanese pounds at 8000 pounds to the dollar, after the exchange rate from banks was 3900 pounds.

The Banque du Liban said in a statement that “until an integrated and comprehensive governmental plan is developed that complies with economic and reform principles and the requirements of the International Monetary Fund, allowing the reactivation and growth of the local economy and reforming the financial sector in order to reach fair and balanced solutions that preserve the rights of depositors and constitute a basis for restoring confidence, and pending the government plan that To allow for the unification of exchange rates, to protect social and economic stability and to limit depositors’ losses, the Central Bank of Lebanon decided, for those wishing to benefit from Circular No. 151, to raise the exchange rate of the US dollar from 3900 LBP to 8000 LBP, provided that, in order to limit the growth and impact of the monetary mass In terms of inflation, the ceiling for monthly withdrawals is set to a maximum of $3,000 per account.

The bank stressed that “fairness to depositors and preserving their money can only be done by developing and implementing the above-mentioned plan,” stressing the “necessity of meeting it by taking appropriate measures and basic initiatives to support the economy and protect it from the increase in inflation and set economic policies to withdraw the monetary mass from By activating levying and expanding the base of tax coverage.

It is noteworthy that the dollar exchange rate on the black market (parallel) recorded today, 25,000 pounds for sale and 24,950 for purchase, after it crossed the end of last November the threshold of 25,000 Lebanese pounds, its highest level since the start of the economic crisis in 2019.

Source: RT

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