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Launch of electronic platform for exchange operations

26-06-2020 | 07:18

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Launch of electronic platform for exchange operations

Central Bank Governor Riad Salameh announced on Friday the launch of an electronic platform for USD and LBP exchange operations through an electronic application called "Sayrafa".

He noted that Friday’s trading rate was approximately LBP 3850 - LBP 3900 per US dollar.

"Liquidity has been secured at these prices and money exchange operations have taken place on this basis," Salameh added.

"The official exchange rate remains at LBP 1515 per US dollar. As for the prices, which are being announced through media outlets and other social media portals -- in the so-called black market - they have nothing to do with the Central Bank, which also bears no responsibility for," Salameh added, affirming that the US dollar amounts that are being traded in the black market "are very limited."

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