Lebanon banks to sell dollars at approved rate starting March 28

BEIRUT – Lebanese banks will be allowed to sell the local currency for US dollars and vice-versa starting March 28, on the basis of the approved rate known as “Sayrafa”, the central bank said on Friday.

There will be no limitation on the volume of currency exchanged at the banks, it added in a statement according to Reuters.

Fuel imports will be based on an exchange rate of 22,200 Lebanese pounds per dollar, until March 29, it said.