| 22 May 2024, Wednesday |

Shall we go back to the time when exchange rate applications were suppressed?

The Banque du Liban determined that the effective dollar-to-Lebanese pound rates are those released daily by the Banque du Liban in conformity with current market trading and registered on an exchange platform that individually discloses prices and the volume of transactions that contributed to these prices.
BDL stressed that the applications that announce prices without indicating the amount of transactions that gave birth such prices are suspicious and illegal applications.

The Banque du Liban stated that at the request of the government, judicial and security authorities sought to control these applications, and because many of them are located outside Lebanon, the Banque du Liban demanded that international Internet companies remove these applications from their networks. The Banque du Liban will monitor the situation internationally and will delegate duty to businesses such as Google.

After a decision was issued by the Ministry of Economy to raise the price of a bundle of bread to 10,000 LBP, the ministry returned to deny this matter, stressing that the price is still the same at a 8,000 LBP maximum, despite the rise in the dollar rate. However, the head of the Federation of Bakeries Syndicates, Ali Ibrahim, explained to Sawt Beirut International that the price of a bundle of bread has already increased, but the bundle of 1,035 grams, which costs 10,000 LBP, are not produced by the bakeries, and those that cost 8,500 LBP weigh 830 grams.

  • Sawt Beirut International