Lebanon cb to increase forex reserves

Source: The Daily Star

The central bank plans to increase its $10.2 billion foreign currency reserves to absorb excess liquidity in the money market before it leads to inflation, upsets interest rates and scares away capital, the governor said on Tuesday 3 June.

"The central bank is currently undertaking plans (to amass) the largest amount of currencies," said central bank governor Riad Salameh at a news conference held to announce the recommendations of Beirut's Arab investment conference.

"R

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