An announcement was made by the Governor of the Central Bank of Lebanon, Riad Salameh, stating the following: The exchange rate of the US dollar increased by 2,000 LBP in the parallel market during the holiday period, which lasted for three days. This increase resulted from speculation and the smuggling of dollars outside the country. This rise has caused inflation in the markets, negatively affecting the Lebanese citizen, as prices in Lebanon are linked to the exchange rate of the dollar. Consequently, based on Articles 75 and 83 of the Monetary and Credit Law, it has been decided to implement the following:
First, raise the Sayrafa rate to 38,000 LBP. Second, the Central Bank of Lebanon will buy all Lebanese pounds and sell dollars at the Sayrafa rate of 38,000 LBP. Individuals and institutions can approach all Lebanese banks to conduct these transactions without limits on amounts. This will remain in effect until further notice.
