SAWT BEIRUT INTERNATIONAL

| 15 May 2021, Saturday | النسخة العربية

Lebanese pound remains stable against US dollar on Friday morning

On Friday morning, the Lebanese pound was registered between 12,275 and 12,325 LBP per dollar, after it was registered yesterday evening between 12,250 and 12,325 Lebanese pounds per dollar.

The Central Bank’s platform, which was due to be launched on Monday (April 26), aimed to help maintain some order on the market and allow the BDL to have a degree of control over supply and demand of foreign currency.

Economic sources confirm that the new platform of BDL that will be launched by next week will lead to a decrease in the black market price to more than 60%, which will result in a decrease in the dollar price in parallel to prices set by the platform.

The local currency has lost nearly 90% of its value since 2019 amid a severe economic and financial meltdown that has threatened to destabilize the country.