Sarah
02-01-2023, 10:17 AM
Lebanon adopted a new official exchange rate of 15,000 pounds per US dollar on Wednesday, the central bank said, marking a 90% devaluation from its previous official rate that had been unchanged for 25 years. The shift from the old rate of 1,507 is still far off the parallel market where most trades take place. Two market participants said the pound was changing hands at around 59,000 per dollar on Tuesday.
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