After the Association of Banks in Lebanon decided to suspend its strike for a week, which came after a meeting with Prime Minister Najib Mikati, who intervened in the case, the exchange rate of the dollar began to decline, so will any action be taken to reduce the exchange rate further ?!
In this context, economic circles indicated that “there is a very large state of anticipation in the market, and it will increase after the banks’ decision to return for a week, due to fear of the week that follows, and not knowing whether they will decide to return to the strike or not.”
In an interview with the “Lebanon Debate”, the circles said: “This decision does not change anything, and we do not expect a significant drop in the exchange rate of the dollar, and returning for a week does not solve the problem.”
And she added, “Everyone is waiting for this match of rams to finally end, to see if there is really an allegation of money laundering, or that the issue will stop and things will be settled.”
The circles explained, “The exchange rate of the dollar was also affected by two reports, the first that talked about the Central Council meeting and taking action, and the second talked about the financial meeting that was postponed twice, and therefore speculators in the market are apprehensive because they have no information.”
And she continued, “There is a state of great uncertainty in the market. If the speculators and major dealers had certain information in this direction or that, they would have sold or bought the dollar forcefully.”
The circles emphasized that “all these matters led to a state of anticipation for fear of a major measure that would lead to a reduction in the exchange rate of the dollar, as well as for fear of chaos and an insane rise, and all of this is related to developments.”