An exchange office in Hamra on July 4, 2024. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
Since Saturday, even before Hezbollah fired rockets at Israel, plunging the country back into an open conflict, Lebanese authorities implemented measures to prevent a spike in demand for dollar and stabilize the currency market, multiple sources have told L’Orient-Le Jour.The plan, which was developed over several emergency meetings under the leadership of the president, involves mobilizing the Banque du Liban (Central Bank, BDL), the Finance Ministry, and a group of banks, tasked with supplying the central bank with foreign currency through a company owned by Salim Khalil and authorized to deal with more than 80 money exchangers licensed by the U.S. Treasury. These banks include Bankmed, Creditbank, First National Bank, and Lebanon and Gulf Bank.“In recent days, Khalil’s company bolstered supply of dollars to meet demand, acting as a...
Since Saturday, even before Hezbollah fired rockets at Israel, plunging the country back into an open conflict, Lebanese authorities implemented measures to prevent a spike in demand for dollar and stabilize the currency market, multiple sources have told L’Orient-Le Jour.The plan, which was developed over several emergency meetings under the leadership of the president, involves mobilizing the Banque du Liban (Central Bank, BDL), the Finance Ministry, and a group of banks, tasked with supplying the central bank with foreign currency through a company owned by Salim Khalil and authorized to deal with more than 80 money exchangers licensed by the U.S. Treasury. These banks include Bankmed, Creditbank, First National Bank, and Lebanon and Gulf Bank.“In recent days, Khalil’s company bolstered supply of dollars to meet demand, acting...
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