The Lebanese pound appears to be ending the year on a bit of a high, as demand for the dollar continued to weaken despite the onset of the holiday season. In interbank trading, the local currency ranged between LP 1,506.5-7.5 at the close compared to LP1,512.5-13.5 a week before, as traders appeared to close their books a little earlier this year. The Lebanese pound’s appreciation on the interbank market this week gives it some margin of comfort going into the New Year given the Central Bank’s intervention band of LP 1,501-14. ¯ ( Banque du Liban et d'Outre-Mer Sal )
© 2000 Mena Report (www.menareport.com)
