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LBCI's sources: A move to set the banking dollar rate at LBP 25,000 per dollar

Lebanon Economy

17-02-2024 | 10:58

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LBCI's sources: A move to set the banking dollar rate at LBP 25,000 per dollar

Sources revealed to LBCI that the government has a plan for the Finance Ministry to set the official exchange rate for the dollar by next week at LBP 25,000 instead of LBP 15,000.

This potential adjustment comes as many depositors require liquidity in Lebanese lira, but banks do not meet their needs at the current exchange rate of LBP 89,500 per dollar.

The sources further indicate that the caretaker Prime Minister Najib Mikati has been in contact with the acting Banque du Liban (BDL) governor, Wassim Mansouri, to discuss the matter.

Mansouri reportedly opposed the idea of multiple exchange rates, affirming that the prevailing rate set by the BDL stands at LBP 89,500 per dollar.

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