According to central bank chief Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on February 1, which will devalue the currency by 90%.
Central bank governor Riad Salameh announced that Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on February 1.
The change from the previous rate of 1,507 to 15,000 is still much below the amount the pound was trading at on Tuesday on the black market, which was roughly 57,0...
