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Raed Khoury to Nidaa Al-Watan: BDL will not renew or extend Circular 151 after it expires at the end of this year

Press Highlights

29-12-2023 | 05:04

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Raed Khoury to Nidaa Al-Watan: BDL will not renew or extend Circular 151 after it expires at the end of this year

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Former minister and banker Raed Khoury announced that, according to his information, the Central Council of the Banque du Liban (BDL) will not renew or extend Circular 151 after it expires at the end of this year.

He noted that banks will continue to implement it, setting the exchange rate at LBP 15,000 with a withdrawal limit of LBP 24 million (USD 1,600). The BDL will overlook this until the approval of the 2024 budget.

This article was originally published in and translated from the Lebanese newspaper Nidaa Al-Watan.

Speaking to "Nidaa Al-Watan," Khoury indicated that "there will be different discussions when the budget is issued. Several studies are being conducted at the BDL to address this matter."

He emphasized that "the issuance of the budget means the necessity of adopting an exchange rate of LBP 89,500, taking into consideration not injecting new liquidity in lira into the markets to avoid raising the dollar's price in the black market and causing a new decline in the value of the Lebanese lira against the dollar."

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