Financial and Banking News
REGIONAL BANKING
Lebanon Sets Non-Market Exchange Rate
Lebanon came one step closer to a dual exchange rate and exchange control with the introduction on 12 January of a 'customs rate' for its currency which implies a 60% revaluation compared with the free market rate. According to a statement by Mr. Nabih Berri (who holds multiple portfolios in the Cabinet), the customs rate is set at LL6=$1 for all imports other than motor vehicles, luxury items...
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