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Lebanon changes fuel imports exchange rate, effectively raising prices - central bank

21-08-2021 | 12:48

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Lebanon changes fuel imports exchange rate, effectively raising prices - central bank

Lebanon's government has decided to change the exchange rate used as a base for fuel imports, Central Bank Governor Riad Salameh told Reuters on Saturday, effectively increasing retail prices.

The government will price fuel imports at a rate of 8,000 pounds per dollar starting Saturday, he said, versus 3,900 pounds per dollar previously.

The decision is meant to ease crippling fuel shortages.

REUTERS

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