No. 63



Lebanon's Net Forex Reserves Top $4Bn

The Governor of the Central Bank of Lebanon, Mr. Riad Salamah, announced last week that the bank's net foreign exchange reserves have for the first time exceeded $4bn, excluding the forex deposits of commercial banks and the gold reserves. Net forex reserves stood at $2,858mn at the end of 1995 and $2,732mn at the end of 1994. In an interview with a local paper, the Governor said that the increase in reserves had...