The Dollar Rises... Will the Central Bank of Lebanon Intervene Again?

Meanwhile, the living situation is becoming increasingly difficult, as Lebanese citizens are set to celebrate Christmas under unparalleled economic and social conditions. Despite the acceptable activity brought by the arrival of expatriates and tourists for the holiday season, the situation is deteriorating with the dollar exchange rate skyrocketing and the prices of most goods rising. The vast majority of citizens are now unable to provide even the simplest necessities on the eve of the holiday. In this context, the focus is on the Central Bank of Lebanon and whether it will intervene to calm the foreign exchange market in the coming days, especially since it has been accustomed to taking action in such circumstances. Sources indicated that "there is no decision on this matter yet, but the option is on the table." However, the sources reminded that "the Central Bank injects $100 million monthly for public sector employees, as well as other dollar amounts through cash withdrawals. Additionally, a large number of tourists have arrived and are spending dollars, all of which factors encourage a decrease in the dollar rather than an increase, making what is happening illogical."