BDL Allows Banks to Buy LBP at Sayrafa Rate
Central Bank Governor Riad Salameh on Tuesday issued a statement saying commercial banks can now purchase Lebanese banknotes in return for cash dollars based on the exchange rate of the Sayrafa platform.
Media reports said banks have in recent days been short on Lebanese pounds and were rationing the amounts given to clients.
The central bank had recently allowed commercial banks to purchase U.S. dollars in return for Lebanese pounds also based on the Sayrafa exchange rate, which led to a major recovery for the Lebanese pound on the black market.
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