Lebanese governor in emergency meeting as crisis grows
Currency reported to have lost 50% of value this week as exchanges ignore central bank orders
Lebanon’s central bank governor attended an emergency cabinet meeting as the country’s economic crisis worsened significantly, with the currency falling still further on the black market.
Local journalists reported that central bank governor Riad Salameh attended an emergency cabinet meeting called by prime minister Hassan Diab today (June 12). They say the Lebanese pound began the week trading at 4,000 to the dollar but by June 11 its value on the black market had fallen 50% to 6,000 against
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