Lebanese officials devalued their currency on Wednesday amid the ongoing economic crisis. The devaluation is still well below the dollar exchange rate on the street, and multiple rates remain in place in Lebanon.
Lebanon’s central bank, Banque Du Liban, lowered the official exchange rate to the US dollar from 1,507 to 15,000 pounds, multiple outlets reported. Bank governor Riad Salameh told Reuters Tuesday that the move constitutes an effort to unify different exchange rates in the country.
