The Lebanese presidency announced on Friday that the central bank will reactivate its electronic platform to regulate the currency exchange operations, adding that the private banks will be able to organize such operations just as the legitimate money changers.
President Michel Aoun’s political and media advisor, Antoine Costantine, pointed out that the central bank will intervene to absorb liquidity in order to adjust the exchange rate whenever needed.
Costantine added that President Aoun underlined, during his meeting with the central bank governor Riad Salameh, the necessity of curbing the hike of the exchange rate.
The Lebanese pound is trading on Friday at nearly 12,000 pounds to the dollar on the black market, according to media reports.
Source: Al-Manar English Website