.
.
.
.

Lebanon's central bank governor says new decisions made will stabilize exchange rate

Published: Updated:

Lebanon’s central bank governor said on Tuesday that the new decisions on bank requirements would help stabilize the Lebanese pound’s exchange rate.

Lebanon has $19.5 billion in reserves on top of gold reserve, Riad Salameh told Sky News Arabia. He said 30 percent of funds that exited Lebanese banks have to be returned, saying it was “not logical” for bank owners not to have their funds in their own banks.

Salameh said banks that do not comply with the latest directives on ratios will have to exit the market after February.

Read more:

Beirut residents unconvinced by Lebanon’s new prime minister-designate

Beirut explosion could cost more than $8 bln, says World Bank

Third Lebanese IMF negotiator quits post: Report