Circular specifying the purchase price of foreign currencies, not to exceed 30% of the price determined by the Banque du Liban
In a circular issued by the Banque du Liban, he asked the money changers to abide by an exceptional maximum of the purchase price of foreign currencies against the Lebanese pound, not to exceed 30% of the price determined by the Banque du Liban in its dealings with banks, and called for refraining from any exchange operation that does not take into account Specified in the aforementioned Clause 1, and the non-adoption of margins between the selling price and the purchase price of foreign currencies, outside the usual customs.
The circular also requested not to stop carrying out banking operations of all kinds so that the movement of these operations remains in line with the pattern of activity that it used to do during the previous two years under penalty of being subjected to delisting from the list of exchange institutions.
In connection with high-ranking sources in the syndicate of money changers, she confirmed that she had received the circular issued by the Banque du Liban, noting that in reality we are confused because implementing this circular is almost impossible, and she added: We are in the process of consulting with us to agree on a reasonable exchange rate To go back and hand the dollar over to the buyers, but for the time being, we have decided to refrain personally from selling the dollar because that is a great loss for us.
To view the circular: Press here