Source: An-Nahar
The meeting of the Central Council of the Bank of Lebanon concluded with an agreement that the Central Bank will continue to pay public sector salaries in US dollars at an exchange rate of at least 85,500 for the next two months.
The Central Council’s decision comes based on the fact that the 5 percent that the employee receives as the difference between the market exchange rate (90 thousand pounds) and the dollars that the Bank of Lebanon insures at a price of 85 thousand and 500 pounds provides relief to the public sector.
In addition, the Bank of Lebanon does not consider the difference a loss because it takes into account the lack of pressure on the lira if salaries are pumped into the market all at once to buy the dollar in a way that might shake the stability of the exchange rate.
