SITUATION REPORT

Lebanon: New Exchange Rate Devalues Currency by 90%

Feb 1, 2023 | 15:34 GMT

Lebanon's central bank governor, Riad Salameh, said the country would adopt a new exchange rate of 15,000 Lebanese pounds to the dollar, a 90% drop in value from the previous exchange rate of 1,507 pounds to the dollar, on Feb. 1, Reuters reported Jan. 31....

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