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A closer look into Lebanon’s fixed currency

Lebanon's fixed exchange rate has been a pillar of stability for two decades. However, poor economic conditions threaten its sustainability.

BEIRUT — Lebanon declared an economic emergency Sept. 2 following a downgrade from two of the three major credit rating agencies and slowed GDP growth — 0% according to the credit rating agency Fitch.

These precarious economic conditions have raised concern over the country's ability to maintain one of its most successful monetary policies: the fixed exchange rate between the Lebanese pound and US dollar.

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