Lebanon's Central Bank sets new rate for withdrawals from dollar deposits

The Central Bank of Lebanon has set a new rate for withdrawals from dollar deposits in Lebanese Pounds at 8,000 to the U.S. dollar, the bank said in a statement on Thursday.

The previous rate was set at 3,900 pounds, implying a haircut of more than 80% since late 2019 when Lebanon's economic crisis erupted.

 

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