SAWT BEIRUT INTERNATIONAL

| 24 June 2021, Thursday |

Dollar exchange rate “heading upwards” on black market

The black market dollar is still soaring, as it registered 12,800 Lebanese pounds for sale to money changers and 12,900 pounds for purchase, the same rate it closed at by the end of last week.

Riad Salameh, the Governor of the Banque du Liban, reported that the Central Bank will be selling dollars to participating banks on the “banking” platform at 12,000 LBP per dollar, despite previous expectations of a trading price of 10,000 LBP.

“In conformity with the aforementioned, participants wishing to register all applications on the platform shall do so between Friday, May 21, 2021, and Tuesday, May 25, 2021, under one condition: to settle the required amount upon registration of the application in Lebanese pounds in cash,” the Central Bank said.

Lebanese banks have set the price of 3,850 LBP per dollar, when withdrawing the dollar to small depositors a while ago, a decision that remains in force till present.

The Syndicate of Money Changers in Lebanon announced the pricing of the dollar exchange rate against the Lebanese pound, with a maximum rate of 3,850 LBP for purchase and 3,900 LBP for sale.

The dollar’s exchange rate at the Central Bank of Lebanon remained stable at 1507.5 pounds per dollar, specific to commodities.