The move will mean importers will now have to source US dollars from the black market, a central bank spox said, after revealing last year it would stop providing US at heavily subsidised exchange rates, due to dwindling foreign currency reserves.
The Lebanese pound was trading at around 35K to the dollar on Monday, while the Sayrafa – Lebanon‘s official exchange platform – rate sat around 28K last week. (Reuters)
Meanwhile, Russia has approved Beirut’s request for humanitarian aid, ambassador Chawki Bou Nassar confirmed last week. Moscow will send cereals, foodstuffs and oil derivatives, among other much-needed supplies.