The central council of the Banque du Liban has reportedly approved the official launch of the Sayrafa 2 electronic platform, extending the previous platform to commercial banks. The central council would thus have approved the circulars relating to the functioning of this platform while many questions are being heard concerning its functioning.
Thus, the people who have followed the trainings given by the Banque du Liban in recent weeks have had no information concerning the initial parity of the Lebanese pound against the dollar or even on the quantity and origin of foreign currencies that will be exchanged. .
It would be, according to the experts, to provide a large quantity of foreign currency and in particular the dollar in order to control this exchange market, while the available reserves of the Bank of Lebanon are on the verge of being exhausted by now. end of June.
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The new platform could thus fail in its main mission of allowing better control of the currency market.
Questions also remain regarding the purchase of foreign currency to finance the purchase of basic necessities after the exhaustion of available monetary reserves which should occur at the end of June. Observers thus note that the new market should thus find some 500 million dollars per month while the exchanges on the black market oscillate between 5 to 7 million dollars per day currently, that is to say more than 200 million dollars per month. The imbalance between supply and demand should therefore lead to a deterioration in the value of the Lebanese pound against the greenback.
