Close Menu
    Facebook X (Twitter) Instagram
    Wednesday, May 14, 2025
    961
    Instagram Facebook LinkedIn TikTok
    • Breaking News
    • Guides
    • Food & Drink
    • Listicles
    • Join the Team
    • Whatsapp
      • 961
      • 961 News
    • AUB Outdoors ☀️
    Advertise with Us Get the App
    961
    Home»News»Lebanon News
    Lebanese Central Bank's Foreign Currency Reserves Are Now In 'Grave Danger
    TDS/Mohamad Azakir
    2 Mins Read

    Lebanese Central Bank’s Foreign Currency Reserves Are Now In ‘Grave Danger’

    By Hussein YassineFebruary 28, 2021
    Facebook WhatsApp Copy Link

    The Lebanese Central Bank’s foreign currency reserves have reached dangerously low levels, an official has indicated.

    Speaking to Al-Joumhouria newspaper on Saturday, an official financial source warned that “there won’t be a ceiling for the collapse” if the current situation in Lebanon remains unchanged.

    “There will also be no ceiling to the rise of the dollar, which may reach, I would not say astronomical figures, but rather imaginary figures,” the unnamed official said, pointing out to the alarming rise recorded on the black market this week.

    Despite everything, the source noted, “we have not reached the bottom yet.”

    The main condition for Lebanon not to reach the bottom is the formation of a government, the official said, explaining that with each day that passes without a government in Lebanon, “the possibilities of treatment get weaker, more difficult, and more complicated.”

    With that said, the official criticized the performance of the caretaker government, calling it “a group of losers that has completely abandoned its responsibilities.”

    The official went on to accuse the government of being “only concerned with asking for money from the Banque du Liban, without realizing the critical situation that its obligatory and strategic reserve has reached.”

    The foreign currency reserve currently available at the central bank is “in the circle of grave danger,” the official stressed.

    “Its dissolution, currently taking place in the ongoing subsidy process,” the source added, “will not separate us from the final fall to the bottom by months, as it is said, but only by a very few weeks, no more.”

    In related news, a recent report indicated that the central bank will soon issue a new decision that introduces new measures with respect to fresh money bank accounts.

    Economic Crisis Lebanon
    Share. Facebook Twitter LinkedIn WhatsApp Reddit Email

    For You

    uae travel ban lebanon 961

    UAE Is Officially Removing The Travel Ban On Lebanon

    Lebanese talking-stage

    15 Things Your Lebanese Talking-Stage Will Tell You, And What It Actually Means

    Joe Issa El-Khoury 961

    Who is Joe Issa El-Khoury, Lebanon’s New Minister of Industry

    Adel Nassar 961

    Who is Adel Nassar, Lebanon’s New Minister of Justice

    Nizar Hani 961

    Who is Nizar Hani, Lebanon’s New Minister of Agriculture

    Charles Hajj 961

    Who Is Charles Hajj, Lebanon’s New Minister of Telecommunications

    saint levant aub outdoors 2025 961

    Saint Levant Is Officially Headlining AUB Outdoors 2025!

    20 Celebrities You Probably Didn’t Know Had Lebanese Roots

    April 22, 2019
    nada koussa miss world miss lebanon 961

    Nada Koussa Just Left To Represent Lebanon At Miss World

    May 7, 2025

    Lebanon’s Shawarma Is Going Viral in The Philippines

    April 21, 2019
    visa whish money partnership

    Visa and Whish Money Just Partnered To Push Digital Payments in Lebanon and Abroad

    May 6, 2025
    dew apparel nada koussa miss lebanon 961

    Miss Lebanon Nada Koussa Just Launched A Sportswear Brand

    May 3, 2025
    arabic words

    30 Beautiful Arabic Words You Probably Want To Learn

    April 22, 2020

    Ampere Cinema Reopens Its Doors In North Lebanon After 28 Years Of Absence

    June 30, 2022
    Lebanese boutiques

    25 Boutiques In Lebanon To Find Your Dream Evening Dress This Wedding Season

    June 9, 2024

    20 Typical Lebanese Slang Expressions

    April 21, 2020
    961 Logo
    Facebook WhatsApp TikTok Instagram

    Popular Topics

    • Guides
    • Eat & Drink
    • Listicles
    • Lebanon News
    • Diaspora
    • Explained

    961

    • About
    • WhatsApp Channel
    • News WhatsApp Channel
    • Corrections Policy
    • Ownership & Funding

    Services

    • Advertise
    • Careers
    • App Waitlist
    • Contact Us
    • Newsletter
    961™ | All Rights Reserved ©2025
    • Privacy Policy
    • Terms

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Okay