Lebanese governor promises devaluation as crisis deepens

Judge investigating Salameh over corruption allegation resigns

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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