Lebanese pond stable, central bank says| MENAFN.COM

Monday, 06 February 2023 02:51 GMT

Lebanese pond stable, central bank says


(MENAFN) The Lebanese central bank has the foreign-currency reserves it needs to keep the pound stable against the US dollar at its steady rate for the anticipated future, the central bank governor Riad Salameh said on Tuesday.

The governor said in an interview that since June the central bank has been engaged in three financial operations projected to maintain high levels of dollar assets and to help banks to run their credit portfolios in a less risky way.

"The reserves of the central bank are now at USD44.3 billion, so it is a record high", Salameh said at the headquarters of the central bank in Beirut.

"These operations have contributed in increasing the dollar assets of the central bank", Salameh said.

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