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
27
o
Bekaa
24
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
23
o
North
28
o
South
25
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Joumhoriyet Noun
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
27
o
Bekaa
24
o
Keserwan
28
o
Metn
28
o
Mount Lebanon
23
o
North
28
o
South
25
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
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Sports
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
Dollar exchange rate continues to rise as banks go on strike
Lebanon Economy
12-03-2023 | 12:48
High views
Share
Share
2
min
Dollar exchange rate continues to rise as banks go on strike
The Lebanese pound continues its downward spiral as the dollar exchange rate surpasses 90,000 Lebanese pounds.
This marks a return to pre-announcement levels by the Central Bank of Lebanon, in which it sold dollars at 70,000 Lebanese pounds through the Sayrafa platform.
The latest round of bank withdrawals on the Sayrafa platform has been lackluster due to low public enthusiasm, as many feared that their money would be locked in the bank as it happened earlier this year. However, the situation has been further complicated by the decision of the banks to go on open strike next Tuesday.
Sources within the Central Bank of Lebanon have confirmed that the bank will not intervene in the exchange rate through banks during the strike and will not accept new requests for exchange through Sayrafa.
It will only distribute funds to those who submitted requests last week through Sayrafa. The Sayrafa platform will remain open only for public-sector employee withdrawals.
During the bank strike, the availability of dollars through banks will cease, leading traders, importers, and anyone needing dollars to resort to the black market, increasing the pressure on the dollar even more.
While the central bank's aim through Sayrafa is to alleviate the deterioration of the exchange rate, Sayrafa doe not address the fundamental reason for the devaluation: the high and ongoing state budget deficit that the Central Bank of Lebanon is forced to finance by printing Lebanese pounds.
As long as there is no plan or reforms, the dollar exchange rate will continue to rise, with or without banks.
Lebanon News
Lebanon Economy
News Bulletin Reports
Lebanese
Pound
US
Dollar
Exchange Rate
Central Bank
Lebanon
Sayrafa
Platform
Next
President Aoun emphasizes importance of agricultural sector, highlights efforts to boost exports to Gulf countries
Recommended For You
d-none hideMe
0
Lebanon Economy
2025-07-11
Fuel prices shift in Lebanon
Lebanon Economy
2025-07-11
Fuel prices shift in Lebanon
0
News Bulletin Reports
2025-07-08
Billions needed, but no plan: Lebanon’s social spending crisis deepens
News Bulletin Reports
2025-07-08
Billions needed, but no plan: Lebanon’s social spending crisis deepens
0
Lebanon Economy
2025-07-04
Gasoline prices drop, gas price rises in Lebanon
Lebanon Economy
2025-07-04
Gasoline prices drop, gas price rises in Lebanon
0
News Bulletin Reports
2025-07-02
Six years on, Lebanon’s banking crisis deepens without legislative solution
News Bulletin Reports
2025-07-02
Six years on, Lebanon’s banking crisis deepens without legislative solution
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Middle East News
2025-07-11
Nobel laureate Mohammadi says Iran issuing death threats
Middle East News
2025-07-11
Nobel laureate Mohammadi says Iran issuing death threats
0
World News
2025-07-11
Erdogan hails 'important step towards terror-free Turkey' as PKK destroys arms
World News
2025-07-11
Erdogan hails 'important step towards terror-free Turkey' as PKK destroys arms
0
Israel-Gaza War Updates
2025-07-11
'There are no red lines anymore' says UN Palestinian rights expert on US sanctions
Israel-Gaza War Updates
2025-07-11
'There are no red lines anymore' says UN Palestinian rights expert on US sanctions
0
Middle East News
08:29
Iran says cooperation with UN nuclear watchdog 'will take on a new form'
Middle East News
08:29
Iran says cooperation with UN nuclear watchdog 'will take on a new form'
Videos
d-none hideMe
0
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
Lebanon News
2025-07-01
Massive fire erupts at unregulated dumpsite in Bchannine, Zgharta district
0
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
Lebanon News
2025-06-10
Clash between Lebanese Army and residents of Deir Qanoun Al Nahr results in injuries (Video)
0
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
Lebanon News
2025-06-04
Mexico dedicates garden around Lebanese Emigrant Statue in Beirut to mark 80 years of diplomatic ties
0
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
Lebanon News
2025-05-19
President Aoun to seek Egyptian support for Lebanese Army in detecting explosives and tunnels
0
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
Lebanon News
2025-05-15
LBCI Exclusive: US steps up pressure on Hezbollah, Morgan Ortagus details sanctions and vision for Lebanon's future
0
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
Lebanon News
2025-05-11
Kuwait rolls out official welcome for Lebanon's President Aoun – video
0
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
Lebanon News
2025-05-11
Security incidents temporarily disrupt voting in several Akkar and Minieh-Danniyeh centers
0
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
News Bulletin Reports
2025-05-09
EU ambassador says 'we are not just donors, but genuine partners to Lebanon': Insights from exclusive LBCI interview
0
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Lebanon News
2025-04-23
US envoy Morgan Ortagus hails Lebanese diaspora, says country stands at a crossroads
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
08:09
Tom Barrack says US mediating undisclosed Lebanon-Israel talks
Lebanon News
08:09
Tom Barrack says US mediating undisclosed Lebanon-Israel talks
2
News Bulletin Reports
13:12
Mixed signals from US envoy Tom Barrack: Lebanon-Israel mediation stirs politics; Hezbollah 'pushes back'
News Bulletin Reports
13:12
Mixed signals from US envoy Tom Barrack: Lebanon-Israel mediation stirs politics; Hezbollah 'pushes back'
3
News Bulletin Reports
13:00
Surveillance towers on the southern border? Lebanon weighs UK plan amid Israeli concerns
News Bulletin Reports
13:00
Surveillance towers on the southern border? Lebanon weighs UK plan amid Israeli concerns
4
News Bulletin Reports
12:56
Lebanon-Syria tensions rise as Damascus steps up pressure over detainee issue
News Bulletin Reports
12:56
Lebanon-Syria tensions rise as Damascus steps up pressure over detainee issue
5
Lebanon News
10:26
Israeli army claims strike killed Hezbollah member in Lebanon's south
Lebanon News
10:26
Israeli army claims strike killed Hezbollah member in Lebanon's south
6
Lebanon News
12:47
US envoy Tom Barrack clarifies Syria remarks: Not a threat to Lebanon, but a vision for coexistence
Lebanon News
12:47
US envoy Tom Barrack clarifies Syria remarks: Not a threat to Lebanon, but a vision for coexistence
7
News Bulletin Reports
13:00
US backs $100M Super Tucano support for Lebanon in key show of military aid
News Bulletin Reports
13:00
US backs $100M Super Tucano support for Lebanon in key show of military aid
8
News Bulletin Reports
13:11
Lebanon’s water paradox: Taps run dry while water 'flows away'
News Bulletin Reports
13:11
Lebanon’s water paradox: Taps run dry while water 'flows away'
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