BEIRUT (Reuters) – Lebanon’s central bank will intervene in the market starting from Thursday to protect the Lebanese pound whose declining value has forced up the price of food and other commodities, Prime Minister Hassan Diab said.
“I received a promise from the governor … that the bank will intervene in the market, starting from today, to protect the Lebanese pound and to rein in the rise of the dollar exchange rate,” Diab said in a televised speech.
The pound has lost more than half of its value since October.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
by : Reuters