November 28, 2022

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Lebanon central financial institution to make use of foreign exchange fee of 15,000 kilos per greenback as of Feb 1

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Lebanon central financial institution to make use of foreign exchange fee of 15,000 kilos per greenback as of Feb 1

BEIRUT, Nov 21 (Reuters) – Lebanon’s central financial institution will undertake an trade fee of 15,000 Lebanese kilos per U.S. greenback as of Feb. 1 as a part of a course of to unify the nation’s a number of exchange-rate system, Lebanese central financial institution governor Riad Salameh stated on Monday.

The central financial institution’s official fee is presently set at 1,500 kilos per U.S. greenback, a fee that has grow to be all however defunct since a 2019 monetary implosion that has seen the forex lose greater than 95% of its worth.

The parallel market trade fee was hovering at round 39,000 kilos per greenback on Monday.

Reporting by Timour Azhari; Modifying by Chris Reese



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