BDL's foreign currency reserves are under pressure

Banque du Liban’s foreign currency reserves came under increasing pressure in the first half of March. During that period, they fell by more than $200 million. Between mid-February and mid-March, the cumulative decline reached nearly $408 million, with reserves dropping from $12.07 billion to $11.66 billion.The drop coincided with a gradual escalation in regional tensions, beginning with fears of a broader conflict, followed by the outbreak of the U.S.-Israeli war in Iran on Feb. 28, before Israel extended its offensive to Lebanon on March 2.This trend mirrors developments in the final months of 2024, when Israel's war in Lebanon, which intensified from September to November, led to a decline of about $530 million in the central bank’s reserves. Dive deeper After two weeks of war, Lebanon faces an already heavy potential economic...