Lebanese Central Bank loses four billion dollars in 2001

The Lebanese Central Bank confirmed that it had lost four billion dollars of its foreign currency reserves in 2001 while it attempted to protect its national currency during a political crisis in the country that year, reported Al-Watan . The bank injected the four billion dollars into local markets in order to keep the Lebanese Lira’s exchange rate as stable as possible. — (menareport.com)

© 2002 Mena Report (www.menareport.com)