Public Actions
Banque du Liban extends Circular 161 until July 31, 2022
Date:
Wednesday, May 18, 2022
Lebanon's central bank extended Circular 161 by two months, until July 31, 2022, in a bid to calm the recent sell-off of the lira. It was previously only prolonged one month at a time.The lira immediately strengthened on the news, gaining LL1,000 to trade at LL30,200 to the US dollar.
Circular 161 permits banks to sell US dollars to depositors at the central bank-set Sayrafa rate.
Sources:
Acting Bodies:
Banque du Liban (BDL)
Type:
Resolutions
Categories:
Economic measures (State budget, rent law, wages...)
Impact:
National
Status:
Approved/ Ratified
Civil Society Response:
Not applicable