Sources to Al-Joumhouria: Political decision determines banks' exchange rate

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21-02-2024 | 02:05
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Sources to Al-Joumhouria: Political decision determines banks' exchange rate
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Sources to Al-Joumhouria: Political decision determines banks' exchange rate

Banking sources told "Al-Joumhouria" that the banks' exchange rate for the dollar is linked to a political decision, as such a decision "burns fingers." Therefore, everyone says that it is better not to bear it and to keep its image away from it so that his image remains bright.

The sources clarified that the banks have no relation to this decision as they perform the role of exchange agents. However, the most prominent role is for the Central Bank of Lebanon as it is responsible for the amount of Lebanese liquidity it will inject into the market since it is its source.

Therefore, it is incumbent on it to decide the money supply it will inject, and the market can absorb it without any impact on the exchange rate, as well as to determine ceilings for withdrawals for depositors.

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