The Lebanese pound is trying to stay around the 15,500 LL / USD on the black market, after several days of almost uncontrolled decline.
Buy parity is 15,400 LL / USD and sell parity of 15,450 LL / USD slightly lower than yesterday after some profit taking in a market attentive to the latest political developments . So rumors indicate that Prime Minister designate Saad Hariri should go to Baabda Palace to submit a proposal from a government of 24 members after a meeting with the Speaker of the Chamber of Deputies Nabih Berri. It would be possible that Saad Hariri will recuse himself from his post in the event of a new refusal by the President of the Republic, General Michel Aoun.
For the time being also, observers note that the Banque du Liban has failed to control the parity of the Lebanese pound on the black market, the new version of its electronic platform not actually taking the mechanism of supply and demand. . Thus, if it is now possible to buy dollars or withdraw the equivalent at the rate of 12 120 LL / USD, the increase in money supply in recent months would now be too large for these measures to turn out to be effective unless flooding the currency market, which is not currently possible given the current unavailability of central bank reserves.
