News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
22
o
Bekaa
26
o
Keserwan
23
o
Metn
23
o
Mount Lebanon
23
o
North
25
o
South
22
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Ahmar Bel Khat Al Areed
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
22
o
Bekaa
26
o
Keserwan
23
o
Metn
23
o
Mount Lebanon
23
o
North
25
o
South
22
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
The BDL and the Finance Ministry collaborate to stabilize currency amid dollar demand surge
Press Highlights
2023-10-11 | 01:12
High views
Share
Share
3
min
The BDL and the Finance Ministry collaborate to stabilize currency amid dollar demand surge
Sources familiar with the matter revealed that the Banque du Liban (BDL) has requested the Finance Ministry to suspend any pending payments in Lebanese lira from the Treasury from last Sunday. The move comes in response to concerns of excess lira liquidity injection into the market that could destabilize the country's monetary stability.
Simultaneously, the BDL has urged local banks to reduce their lira liquidity supply to the market. These requests follow significant market activities observed last Saturday, as demand for the US dollar increased among businesses and exchange offices.
This article is originally published in, translated from Lebanese newspaper Al-Akhbar.
Notably, these dollar transactions were being financed directly from the market itself without causing any immediate impact on the exchange rate. The Lebanese lira has maintained relative stability over the past few months.
This stable exchange rate results from the monetary tightening policy pursued by the BDL in coordination with the Finance Ministry.
The acting BDL Governor, Wassim Mansouri, and Finance Minister Youssef Khalil reached an agreement whereby lira injections from the Treasury are limited to specific amounts, ensuring that the quantities released by the ministry do not exceed the available US dollars in the market.
This equation considers the salaries of public sector employees, which amount to LBP 7 trillion, in addition to the sums released by banks in the market. As a result, lira checks that can be exchanged for cash are issued in extremely limited numbers.
The monetary stability policy is based on the premise that cash US dollars are available in the market, primarily supplied from external sources, such as expatriates, tourists, or other entities.
However, these US dollars are only sometimes available in the exact quantities or at the same pace. This prompts the BDL to impose lira monetary tightening measures to curb the demand for the US dollar.
Questions are being raised about the necessity of such a policy in a market where cash circulation constitutes a substantial percentage, exceeding 70 percent, as exchange rate stability only benefits those conducting transactions in lira.
It holds little meaning as long as commercial transactions in the market are predominantly conducted in US dollars, while the consequences of monetary tightening and austerity measures, in contrast, stifle economic activity.
Lebanon News
Lebanon Economy
Press Highlights
Finance
Ministry
collaborate
stabilize
currency
dollar
demand
surge
Next
The Al-Aqsa Flood Operation: Unraveling Political Chess in the Shadow of US-Israel Relations
Tensions on the northern front: The Lebanese-Israeli border situation
Previous
Related Articles
d-none hideMe
0
Middle East News
2024-04-17
Recovery efforts underway as weather conditions stabilize, says UAE Ministry of Interior
Middle East News
2024-04-17
Recovery efforts underway as weather conditions stabilize, says UAE Ministry of Interior
0
Lebanon News
2024-04-15
Amidst chaos: Foreign Ministry's stand against escalating Middle East turmoil
Lebanon News
2024-04-15
Amidst chaos: Foreign Ministry's stand against escalating Middle East turmoil
0
World News
2024-04-14
Cyprus suspends Syrian asylum applications amid surge in arrivals
World News
2024-04-14
Cyprus suspends Syrian asylum applications amid surge in arrivals
0
News Bulletin Reports
2024-04-11
Russian Ministry Urges Caution for Citizens Traveling to Middle East Amid Regional Tensions
News Bulletin Reports
2024-04-11
Russian Ministry Urges Caution for Citizens Traveling to Middle East Amid Regional Tensions
Recommended For You
d-none hideMe
0
Press Highlights
2024-03-26
From the inside: Hezbollah's take on southern Lebanon's renewed tensions
Press Highlights
2024-03-26
From the inside: Hezbollah's take on southern Lebanon's renewed tensions
0
Press Highlights
2024-03-25
Exploring Lebanon's presidential path: Three key initiatives unveiled
Press Highlights
2024-03-25
Exploring Lebanon's presidential path: Three key initiatives unveiled
0
Press Highlights
2024-03-25
Ahmad Rustom highlights progress and challenges in national dialogue initiative
Press Highlights
2024-03-25
Ahmad Rustom highlights progress and challenges in national dialogue initiative
0
Press Highlights
2024-03-25
Lebanese Presidential elections postponed until after Eid al-Fitr
Press Highlights
2024-03-25
Lebanese Presidential elections postponed until after Eid al-Fitr
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2024-04-05
Nasrallah: The threat of war on Lebanon did not halt confrontations, as the front in Lebanon remains and is linked to Gaza
Lebanon News
2024-04-05
Nasrallah: The threat of war on Lebanon did not halt confrontations, as the front in Lebanon remains and is linked to Gaza
0
Middle East News
2024-04-19
Israeli airstrikes target military site in southern Syria
Middle East News
2024-04-19
Israeli airstrikes target military site in southern Syria
0
News Bulletin Reports
2024-02-20
Beirut's golden achievement: Ranking first place in economic resilience on World Tourism Day
News Bulletin Reports
2024-02-20
Beirut's golden achievement: Ranking first place in economic resilience on World Tourism Day
0
Middle East News
2024-05-07
Two Israeli soldiers killed in Hezbollah drone attack near Metula
Middle East News
2024-05-07
Two Israeli soldiers killed in Hezbollah drone attack near Metula
Videos
d-none hideMe
0
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
0
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
00:23
Israel strikes eastern Lebanon after Hezbollah targets Israeli military bases: AFP
Lebanon News
00:23
Israel strikes eastern Lebanon after Hezbollah targets Israeli military bases: AFP
2
Lebanon News
08:56
Addressing Syrian refugee crisis: Lebanese Parliament takes action, presents comprehensive recommendations
Lebanon News
08:56
Addressing Syrian refugee crisis: Lebanese Parliament takes action, presents comprehensive recommendations
3
Lebanon News
14:58
Hezbollah launches drones at military base west of Israel’s Tiberias
Lebanon News
14:58
Hezbollah launches drones at military base west of Israel’s Tiberias
4
Lebanon News
15:16
On LBCI, MP Waddah Sadek underlines the opposition's 'limited' power, examines Syrian refugee crisis - Key statements
Lebanon News
15:16
On LBCI, MP Waddah Sadek underlines the opposition's 'limited' power, examines Syrian refugee crisis - Key statements
5
Lebanon News
04:20
Hezbollah launches 'over sixty rockets' on Israeli Positions 'in response' to Bekaa region strikes
Lebanon News
04:20
Hezbollah launches 'over sixty rockets' on Israeli Positions 'in response' to Bekaa region strikes
6
Lebanon News
13:51
Quintet Committee ambassadors meet at US Embassy: Reviewing efforts to elect a Lebanese President
Lebanon News
13:51
Quintet Committee ambassadors meet at US Embassy: Reviewing efforts to elect a Lebanese President
7
News Bulletin Reports
13:04
Israeli Defense Minister challenges Netanyahu: Rift deepens over Gaza strategy
News Bulletin Reports
13:04
Israeli Defense Minister challenges Netanyahu: Rift deepens over Gaza strategy
8
Lebanon News
11:11
Lebanon's PM Mikati leads ministerial delegation to Arab Summit in Bahrain
Lebanon News
11:11
Lebanon's PM Mikati leads ministerial delegation to Arab Summit in Bahrain
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More