SAWT BEIRUT INTERNATIONAL

| 3 March 2024, Sunday |

New Lebanese currency to be issued soon.

At the beginning of January, coinciding with the start of the new year in 2024, a new 100,000 Lebanese pound note of a smaller size than the current one will be introduced. This newly printed denomination might bear the signature of the former governor of the Central Bank of Lebanon, Riad Salameh, and subsequent editions will feature the acting governor’s signature, Wassim Mansouri, and the governor-designate, Bashar Yousef.

There have been numerous proposals by lawmakers to amend the currency law and print one million or 500,000 Lebanese pound notes due to the substantial amount of money carried by citizens, but these proposals were not approved.

Regarding the currency volume, the previous currency issuance exceeded 90 trillion Lebanese pounds, leading to a significant depreciation of the Lebanese pound against the dollar, reaching 145,000 pounds.

However, the currency issuance decreased to 55 trillion pounds after the assumption of office by Governor Mansouri, which stabilized the dollar exchange rate.

    Source:
  • Sawt Beirut International