Increased demand for dollars in Lebanese market
The local foreign exchange market was characterized by rising demand for the US dollar as market participants expressed uncertainty about regional stability and the confined tension on the southern border. However, the Cabinet decision on Thursday, February 22, to close the state-run television station for 3 months and lay-off its 523 employees injected a sense of optimism about the government’s move towards administrative and budget reform.
In interbank trading, the Lebanese pound ranged in an unchanged band from the previous week at LP1,514-14.25. — ( Banque du Liban et d'Outre-Mer Sal )
© 2001 Mena Report (www.menareport.com)