The era of Michel Aoun is over and with him all the bets on the possibility of changing many things have ended, including the drop in the dollar exchange rate against the lira.Sunday 23 October 2022, and with magical magic, the price of the dollar fell immediately by five thousand pounds … How is it? And Sunday is the closing day of the stock market, if we consider that what is happening in Lebanon is normal and the result only of the situation and not of the “manipulation” of the dollar, the result was that the reason was a statement from the governor of the Banque du Liban, Riad Salameh.
Many questions arose at that time, why at this time? Is it because the era of President Michel Aoun is about to end and perhaps the message is that a turning point is coming? It was just a few days before the picture started to get clear, the green currency was bouncing and the security statement was nothing more than a “goo needle” to mitigate his missile flight, as it prevails today, surpassing the £ 38,000 mark. .. the question is what about the next stage?
In practice, according to economist Walid Abu Suleiman, every time the Banque du Liban intervenes, the exchange rate of the dollar decreases against the lira, but the biggest challenge is sustainability … from today ?.
“In previous stations, the Banque du Liban intervened to reduce the dollar, and we must not forget this matter.” This is what Abu Suleiman confirms to Al-Nashra, one of which was the day Najib Mikati’s government was formed, for example, when the dollar dropped to £ 15,000 and summed up the matter like this: “In future, demand is more than supply, and therefore in the absence of financial and economic reforms and political stability, the dollar is likely to rise again. “
In turn, accountant and member of the Association of Certified Public Accountants in Lebanon, Rabie Dagher, points out that “we no longer understand how the dollar rises and falls mathematically, and it is clear that this is only done with politics, “wondering:” What happened on Sunday 23 October, until the dollar fell by £ 5,000? At a time when maritime border demarcation with Israel was taking place and the dollar never dropped, Lebanon also entered a presidential vacancy and under one stepped down from the government and didn’t even get up, so how is it ? He explained that “there are no accurate accounts in the Banque du Liban to know what Riad Salameh has from the” cash “and what is in the reserves,” adding: “It is certain that all the difference in dollars between banks and the black market is a charged to the state treasury “.
The latest circular issued by Riad Salameh is considered one of the stations of the Central Bank’s intervention to stem the rise in the exchange rate of the dollar against the lira, and remains calm in this currency that worries the souls of the Lebanese for up to two weeks, before it rises again, pending the political stability represented by the election of a President of the Republic, the formation of a government and the implementation of plans. authoritarian authorities want to do it, then maybe they will save what they can save to still have something to get their hands on!
