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Lebanese Central Bank To Intervene To Protect National Currency
Earlier today, Prime Minister Hassan Diab gave a televised speech on the occasion of completing 100 days in office.
Of the many points he discussed throughout, he announced that the Lebanese Central Bank will be taking necessary measures to defend our local currency.
According to PM Diab, BDL has promised to intervene and protect the national currency, whose devaluation has lead to increasing prices of basic goods. Their plan includes providing dollars to import essential foods.
“I received a promise from the governor… that the bank will intervene in the market, starting from today, to protect the Lebanese pound and to rein in the rise of the dollar exchange rate,” Diab said.
He also explained that the government’s investigation of the central bank is at the top of their list of achievements, making it the first time in Lebanon’s history for BDL to be scrutinized this way.
Of the many points he discussed throughout, he announced that the Lebanese Central Bank will be taking necessary measures to defend our local currency.
— Hassan B. Diab (@Hassan_B_Diab) May 21, 2020
According to PM Diab, BDL has promised to intervene and protect the national currency, whose devaluation has lead to increasing prices of basic goods. Their plan includes providing dollars to import essential foods.
“I received a promise from the governor… that the bank will intervene in the market, starting from today, to protect the Lebanese pound and to rein in the rise of the dollar exchange rate,” Diab said.
He also explained that the government’s investigation of the central bank is at the top of their list of achievements, making it the first time in Lebanon’s history for BDL to be scrutinized this way.
— Hassan B. Diab (@Hassan_B_Diab) May 21, 2020
