Lebanese books. Photo credit: François el Bacha for Libnanews.com

The Lebanese Pound continues its fall on the black market, with an exchange rate on the purchase of 14,300 LL / USD and on the sale of 14,350 LL / USD, as the political and economic situation becomes more complicated.

If the Association of Banks of Lebanon has indicated that it wants to respect the new circular 158 of the Banque du Liban allowing the withdrawal of 400 USD in foreign currency and the equivalent of 400 USD at the rate of 12 120 LL / USD from the previous dollar accounts at the establishment by the Lebanese banks of an informal capital control, that is to say that of the Sayrafa platform, observers wonder about the real capacities of local establishments to respect this promise. Some sources inside local banks believe that their organizations could not achieve this.

Thus, they also warn against the increase in the induced money supply, thus boosting inflation at the local level.

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