Reduced demand for US dollars enabled the Lebanese pound to strengthen somewhat, appreciating in interbank trading from LP1,514-14.25 last week to close at LP1,513.75-14.25. As a result, Central Bank intervention in the market to defend the pound lessened as local confidence rebounded, after the government secured $458 million in international aid and embarked in its administrative reform program. — ( Banque du Liban et d'Outre-Mer Sal )
© 2001 Mena Report (www.menareport.com)
