Statement byCentral Bank of Lebanon Today, Friday, it will allow the country’s banks, starting from March 28, to sell the lira for cash once morest the dollar or vice versa, according to the price of the “exchange” platform, without specifying a limit on the quantity traded.
The statement explained that “the approved and fixed dollar price for importing gasoline until March 29 is 22,200 Lebanese pounds.”
Officials in Lebanon had proposed a way to fill a large gap in the financial system that might make depositors pay the bill instead of the banks or the state.
The plan seeks to revive the banking system by having depositors cover more than half of the $69 billion gap, which is three times the size of the Lebanese economy.
