Lebanon banks to work with central bank to set daily FX rate - banking association

Lebanon's commercial banks will work with the central bank to determine a daily exchange rate for dollars under a new FX trading system being launched, the banking association said on Sunday.

Lebanon's central bank said on Friday it was launching a new FX trading platform that will unify the parallel market rate for money changers, where the slumping local currency has weakened by about 50% from the peg since October.

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