Banque du Liban has published a new circular amending Circular 151 raising the rate of withdrawal of foreign currency deposits from banks from LL / USD 3,900 to LL / USD 8,000 for a maximum limit of USD 3,000 per month per account, a measure which comes into force immediately and which will be valid until April 30, 2022.
This decision was however considered impossible to implement, just a few days, said the governor of the Bank of Lebanon Riad Salamé.
Observers expect such a measure to put strong pressure on the Lebanese pound and fear that the increase in the local currency money supply could lead to a further deterioration in the parity of the local currency against the banknote. green while the International Monetary Fund demands the unification of the various existing exchange rates as a prerequisite for the release of economic aid.
Thus, next to the so-called Lollar rate for currencies deposited with banking institutions and subject to capital controls informally imposed by Lebanese banks since November 2020, the official exchange rate remains unchanged at 1507 LL / USD. Since then, the benchmark rate has been that of the black market which now exceeds the record parity of 25,200 LL / USD at the time of this writing and that of the official platform of the Banque du Liban, known as Sayrafa.relevement-dollar-livre