It is expected that the Central Bank of Lebanon will implement the decision to raise the official dollar exchange rate to 15,000 at the beginning of February, starting today. This was announced by the Governor of the Central Bank of Lebanon, Riad Salameh, in an interview with "Reuters," in an attempt to unify "exchange rates."
Economic expert in dollarized countries, Layal Mansour, indicated that "the central bank's step resembles previous experiences of issuing circulars to increase the value of the banking dollar, and it will have no effect in terms of lowering the dollar exchange rate. On the contrary, the black market is expected to see an increase in the exchange rate, as the money supply will rise in the market.”
Mansour pointed out, in an interview with the electronic newspaper "Al-Anbaa," that "official transactions will now all be at the exchange rate of 15,000, such as stamps and others, and the most affected by the new reality are public sector employees, as private sector institutions have generally adjusted their employees’ conditions, but public sector employees have not received a proper wage adjustment."
