Lebanese Central Bank Governor, Riad Salameh, on Tuesday announced that the USD exchange rate has increased over the last three festive days, which has caused inflation and harmed the Lebanese currency.

“Accordingly, and based on Articles 75 and 83 of the Monetary and Credit Law, the following has been decided:

First, Sayrafa platform rate will be increased to 38,000 LBP.

Second, the Central Bank will buy Lebanese Pounds and sell US dollars at the new Sayrafa rate of 38,000 LBP. All Individuals and institutions can conduct such transactions from all Lebanese banks until further notice.”

Source: National News Agency – Lebanon