Lebanese Banks Will Now Receive People’s Requests To Convert Their LBP Into USD

AP

The Governor of Lebanon’s Central Bank, Riad Salameh, issued a statement in which he directed all holders of the Lebanese Lira – citizens and institutions – that want to convert their local currency into US dollars.

Based on Circular 161 and its effects, and on Clauses No. 75 and 83 of the Monetary and Credit Law, Salameh asked all holders of the Lebanese Lira to submit their requests to the banks in Lebanon, starting next Monday, at the price of SAYRAFA.

These requests will be “fully responded to within 24 hours”, according to Salameh, and the offer is open and available daily.

Salameh instructed the banks to keep their branches and funds open daily until 6:00 pm, starting from next Monday and for three consecutive days,

This is in order to meet people’s requests to buy dollars at the SAYRAFA price for those who handed over Lebanese Lira, as well as to pay the pensions of employees in the public sector in dollars, also at the price of SAYRAFA.

Related: Banque Du Liban Wasted $1.8 Billion Of Lebanon’s Money Trying To Control The Exchange Rate.

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Lebanese Banks Will Now Receive People's Requests To Convert Their LBP Into USD

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