For the first time in a very long time, money changers in Lebanon are witnessing a deficit in Lebanese Liras.
For the longest period, Lebanese money changers have been unable to provide an adequate amount of fresh Dollars in exchange for Lebanese Liras to those wanting to buy Dollars at the black market rate.
The reason behind the Lira deficit can be traced to the huge amount of people exchanging their Dollars for Lebanese Liras ahead of Monday’s parliamentary consultations scheduled to designate a new prime minister who will be responsible for forming a new cabinet.
Another reason is the Central Bank forcing fuel importing companies to pay in Lebanese Liras in order to open credits to buy oil.
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