The Lebanese Central Bank decided on Wednesday to raised the national pound’s exchange rate against the US dollar from 1507 L. L. to 15000 L. L., which would have its effects on various economic sectors in Lebanon.

Head of the Central Bank Riad Salameh said that the only the banks will be concerned with implementing the new dollar rate.

The Central Bank also raised the exchange rate of Sayrafa platform from 38000 L. L. to 42000 L. L.

Accordingly, the exchange rate on the black market remained increasing and reached at the time of preparing this report 64500 L. L.

Similarly, the prices of gasoline, diesel and gas increased remarkably as shown in the following table:

The economist Mahmoud Jebai told Al-Manar Website that raising the official exchange rate helps the government regain its financial capabilities, adding that the first step must be increasing the salaries of the public employees. However, Dr. Jebai indicated that the decision will overburden the poor class in Lebanon with the increased bills.

Source: Al-Manar English Website