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Syndicate of Money Changers

Syndicate of Money Changers latest

Lebanon: Dual Exchange Rates Keeps Fueling the Public Anger
January 21st, 2020 - 09:45 GMT

Lebanon: Dual Exchange Rates Keeps Fueling the Public Anger

As banks have rationed working with dollars, refrained from exchanging Lebanese pounds into the US currency and vice versa, and decreased cash flow to customers, the Lebanese money changers’ market has recovered and there are now two exchange rates for the dollar. The first is the official rate adopted by banks, and is stable at 1,517 Lebanese pounds. The second is controlled by supply and demand, and has led the ...
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