Lebanese governor promises devaluation as crisis deepens

salameh
Riad Salameh

The governor of Lebanon’s central bank said it would devalue the currency, but to a rate much stronger than that currently prevailing on unofficial markets.

Riad Salameh told the US-based Al-Hurra TV network the central bank would reduce its several official exchange rates to just two, Reuters reported. Salameh said it would do so by February 1 next year.

After the devaluation, Salameh said the exchange rate for withdrawals from lenders would be 15,000 Lebanese pounds to the dollar, while the

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