BEIRUT (Reuters) – Lebanon’s central bank will adopt an exchange rate of 15,000 Lebanese pounds per U.S. dollar as of Feb. 1 as part of a process to unify the country’s multiple exchange-rate system, Lebanese central bank governor Riad Salameh said on Monday.
The central bank’s official rate is currently set at 1,500 pounds per U.S. dollar, a rate that has become all but defunct since a 2019 financial implosion that has seen the currency lose more than 95% of its value.
The parallel market exchange rate was hovering at around 39,000 pounds per dollar on Monday.
(Reporting by Timour Azhari; Editing by Chris Reese)
