MP Daher explains difference between Sayrafa and Bloomberg platforms

MP Michel Daher explained the difference between the Sayrafa and Bloomberg platforms.

He said, "The difference is that the source of the dollar through Sayrafa was from the reserves at the Central Bank of Lebanon, which was losing about $6 billion annually. 

 

As for using the Bloomberg platform, it's what's called currency floating, meaning the exchange rate of the dollar is determined by the supply and demand market. Since the demand for the dollar far exceeds the supply due to the balance of payments deficit, the lack of reforms, in addition to the presidential vacuum and the Syrian refugee crisis, the dollar will begin its million journey with great regret. This is the result of the political class's ignorance of the most basic financial and economic principles.