July Crisis Update

July Crisis Update

by | Aug 8, 2023 | LCAT Monthly Reports, LCAT Reports

Key Takeaways: Central Bank Vice Governor Wassim Mansouri was named acting Central Bank governor after the cabinet failed to select a successor to former Central Bank Governor Riad Salameh. Prior to taking on his new position, Mansouri and three other vice governors...
June Crisis Update

June Crisis Update

by | Jul 8, 2023 | LCAT Monthly Reports, LCAT Reports

Key Takeaways: The Lebanese pound (LBP) parallel market exchange rate has been largely stable for three consecutive months and averaged LBP 93,500 per 1 US dollar (USD) in June. Daily average Sayrafa transactions increased in June compared to May, a key driver of LBP...
May Crisis Update

May Crisis Update

by | Jun 8, 2023 | LCAT Monthly Reports, LCAT Reports

Key Takeaways: The Lebanese Pound (LBP) parallel market exchange rate stabilized around LBP 94,500 per 1 US dollar (USD) in May, aided by Central Bank interventions. Commercial banks operated without significant interruption, enabling regular transactions on the...
April Crisis Update

April Crisis Update

by | May 5, 2023 | LCAT Monthly Reports, LCAT Reports

Key Takeaways: The Lebanese national government implemented a range of new policies regarding Syrian refugees in Lebanon, in addition to raiding Syrian national’s residences, a portion of whom were deported. An increase in raids and deportations earlier in the month...
March Crisis Update

March Crisis Update

by | Apr 11, 2023 | LCAT Monthly Reports, LCAT Reports

Key Takeaways: The Central Bank adjusted the Sayrafa exchange rate twice in March, both times in response to rapid Lebanese pound (LBP) depreciation. On March 1, the Central Bank “increased” the Sayrafa exchange rate from LBP 45,400 to LBP 70,000. The Central Bank...