| 14 April 2024, Sunday |

Banque du Liban denies buying $600 million from market

Banque du Liban denied what was published by some media outlets, that the bank had bought 600 million dollars from the market, stressing that “this information is completely untrue, and does not abide by banque du Liban approved policy.” And that it is only a figment of imagination aims at misleading the public opinion, and distort Banque du Liban’s image through  programmed campaigns that the Lebanese are accustomed to.”

The bank confirmed that “the scarcity of the monetary mass in Lebanese pounds at the exchanges during this period confirms the incorrectness of these circulating news,” stressing that “the rise in the price of the US dollar against the Lebanese pound is due to political instability and not monetary reasons.

The bank indicated that it has obligated all banks and exchange institutions of all categories to register all sales and purchases of US dollars on “Sayrafa” platform according to Basic Circular No. 157 for banks and Basic Circular No. 5 for exchange institutions, and to refer violators to the Supreme Banking Authority. The Banque du Liban, prohibits any sale or purchase that is not registered on this platform.