Lebanon central bank extends ceiling-free sales of US dollars until end of April

Lebanon’s central bank on Friday extended its arrangement allowing banks to purchase an unlimited amount of US dollars on its Sayrafa exchange platform until the end of April, a central bank statement said.

A circular on the arrangement was first issued at the end of 2021 and has been regularly extended since. Governor Riad Salameh said earlier this month the central bank would sell unlimited US dollars at the rate of 90,000 pounds to prop up the collapsing pound.