PRESIDENCY PRESS OFFICE: MEETING BETWEEN CENTRAL BANK GOVERNOR AND PRESIDENT AOUN’S FINANCIAL ADVISOR WAS HELD TO ADDRESS MEASURES TO PUT END TO UNJUSTIFIED RISE IN EXCHANGE RATE

NNA – The Presidency Press Office issued the following statement:

“According to the directives of His Excellency the President of the Republic, General Michel Aoun, and following the financial, security and judicial meeting that was held in Baabda Palace on Monday, March 8th, today a meeting was held between the Governor of the Banque du Liban, Riad Salameh, and the advisor of the President for Financial Affairs, Charbel Qirdahi, to review the measures taken by the Governor to end the unjustified rise in the exchange rate and the suspicious speculation on the Lebanese pound.

The BDL Governor informed the President of the Republic that the Central Bank decided to launch work on the electronic platform, so that all transactions are recorded and become the main reference for the real market price.

The decision of the Central Bank also includes allowing banks, starting next week, to trade in currencies such as legitimate money changers and record transactions at the real price on the platform, provided that the Banking Control Commission monitors the smooth progress of work. The BDL will intervene to absorb liquidity whenever needed until the exchange rate is adjusted according to known mechanisms.

The President informed the Governor of the Central Bank, about the need to be strict in order to curb speculation, clean up the banking sector, and resolve to restore confidence so that Lebanon will return to a banking base in the region.– Presidency Press Office

 

Source: National News Agency-Lebanon

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