“The dollar may reach the limits of one million pounds”

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The former head of the Banking Control Commission, Samir Hammoud, expected the dollar exchange rate to reach 999,000 Lebanese pounds, explaining that he had expected in 1984 that the dollar exchange rate would reach three figures, and this is what happened. He said: “Today, if we continue in this pattern and for two years, it will reach The exchange rate is reduced to 6 figures, i.e. 999,000 pounds, and the reason is that we will not accept the pound in its circulation.”

Commenting on the circular of the Governor of the Banque du Liban regarding the payment of $400 cash to depositors per month, Hammoud considered within the “Lebanese Scene” program on “Al-Hurra” channel with the journalist Layal Al-Ekhtyar that “this measure is to mitigate the social explosion and to buy time,” and said: “A bank Lebanon has the 15 billion dollars, then it has the gold, and if the situation continues as it is, the remaining billions and gold are on the way to liquidation and exchange.”

Regarding the remaining funds in the Banque du Liban, Hammoud considered that the remaining 15 billion dollars cannot be spent in full, so 10 billion dollars can be spent, so the balance cannot become zero if it is a bank or from the side of the Bank of Lebanon, and the banks cannot continue to live as well as with correspondents If their balances are zero.





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