Lebanese central bank orders wire services not to use dollars
Economy under strain from political division, fiscal shortfall and refugee crisis
Lebanon’s central bank has ordered the country’s wire service offices to pay electronic money transfers in domestic currency only and not dollars, local media reported.
The Bank of Lebanon sent a circular to local wire services telling them to pay customers only in Lebanese pounds, local newspaper An-Nahar said. The move is another indication that Lebanon’s currency peg to the US dollar is under severe pressure.
Directors of the International Monetary Fund warned in June 2018 that “the
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