The Lebanese Pound at 25,000 LL / USD after the publication of a new circular from the Banque du Liban

The parity of the Lebanese pound against the dollar is collapsing, breaking its historic low and settling at 25,150 LL / USD to buy and 25,200 LL / USD to sell. This collapse was however expected after the publication by the Banque du Liban of an amendment to circular 151, raising the parity rate used for the amount of withdrawal of foreign currencies deposited with Lebanese banks from 3,900 LL / USD to 8,000. LL / USD and whose implementation is immediate.

This increase raises fears of a further increase in the money supply and therefore de facto could induce a devaluation of the Lebanese pound, note the specialists.