It was reported in the online newspaper Al-Anbaa:
After the dollar exchange rate continued its crazy rise with record numbers, and crossed the threshold of 37,000 pounds, the Banque du Liban returned to clearly intervene in the currency market, through a circular it issued allowing all citizens wishing to convert their pounds into dollars to go to the banks and conduct the operation through The “exchange” platform, for the dollar to record a significant decline, reaching below 30 thousand.
Layal Mansour, a specialist in monetary economics in dollarized countries, indicated that the Central Bank’s intervention was expected, as it would not have left the exchange rate madness as it is, but the goal of its intervention is to curb the rise and not change the exchange rate path.
In an interview with the electronic newspaper Al-Anbaa, Mansour warned that the process “is very expensive, and the sources of dollars may be mandatory reserves, or transfer funds coming from abroad, and at the same time it is temporary, and the exchange rate will return to rise following a while, because its price will be artificial.” However, it revealed that the current price may drop by 3 or 4 thousand next week with the start of applying the circular, but this remains temporary before the rise returns once more.