Summary: The Lebanese pound
remains stable said BDL's First Vice Governor Raed Charafeddine over the weekend while ruling out any further downgrade of Lebanon by international rating agencies.
The economy is under threat and the Lebanese pound
is in danger.
De facto, the Lebanese pound
rate of conversion to the US dollar remains within a very narrow band.
The country's banks have managed to weather the global financial crisis and the negative impact of the regional turmoil thanks to prudent policies to keep the Lebanese pound
The Central Bank has ample foreign reserves of $31 billion to help keep the Lebanese pound
It added that Syrian clients can transfer money in the Lebanese pound
, the euro, the Emirates dirham and the Saudi riyal.
The state-run National News Agency reported the gunmen made off with more than 200,000 dollars (almost 150,00 euros) from the safe, most of which was in the local currency, the Lebanese pound
Political tensions have undermined confidence in the Lebanese pound
, with bankers estimating that the central bank has spent around $1 bn (757m, [pounds sterling]522m) over the last eight days to support the currency.
To accomplish this goal, Hariri's government needed to rebuild Beirut as a technologically advanced city, develop a modern infrastructure, solicit foreign investment and business by creating an open free market, stabilize the Lebanese pound
, and offer the lowest corporate tax of any non-oil country in the Middle East.
This had the unfortunate consequence of tying the interest of government to depreciating the value of the Lebanese pound
and drove the Central Bank into pro-cyclical speculation.
Summary: Disgruntled customers said Wednesday that they had been duped by Lebanon's Central Bank (BDL), claiming that collectible gold Lebanese pound
bills they purchased were actually gold plated, and primarily made of plastic and nylon.
rates in order to attract deposits, even though the Lebanese pound
is pegged to the U.