Monetary impact of Lebanon crisis limited, central bank governor says
Central banks maintain a currency peg by buying or selling the national currency on currency markets.
Beirut - Arab Today
Lebanon’s central bank governor Riad Salameh said on Thursday that the monetary impact of a political crisis in Lebanon was limited and there was monetary stability.
Salameh was speaking at the Annual Arab Banking Conference in Beirut on Thursday a day after Lebanese Prime Minister Saad Hariri shelved his decision to resign, easing the political crisis.
Asked by Reuters on the sidelines how much the crisis had cost Lebanon, Salameh said there was a cost to supporting the peg of the Lebanese pound against the dollar, “but we were already prepared.”
“Today the markets are different ... there is a reversal in the markets,” he said, adding that the cost would now diminish.
“Today the market reversed, we are buying dollars.”
Central banks maintain a currency peg by buying or selling the national currency on currency markets.
Salameh declined to say how much had been spent supporting the Lebanese pound. “Usually we don’t give our figures for intervention,” he said.
Source:Arabnews
- Thursday ,20 April GMT 10:48 2017 World Bank President to Lebanese parliamentary delegation in Washington
- Tuesday ,18 April GMT 11:58 2017 World Bank President to Lebanese parliamentary delegation in Washington
- Wednesday ,18 May GMT 02:32 2016 Lebanon's Central Bank stresses implementing US sanctions against Hezbollah
GMT 10:48 2017 Thursday ,20 April
World Bank President to Lebanese parliamentary delegation in WashingtonGMT 11:58 2017 Tuesday ,18 April
World Bank President to Lebanese parliamentary delegation in WashingtonGMT 02:32 2016 Wednesday ,18 May
Lebanon's Central Bank stresses implementing US sanctions against Hezbollah
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 04:23 2017 Tuesday ,20 June
Oil prices flat after weeks of steep declines
GMT 13:19 2014 Thursday ,03 April
Stevie Wonder to top bill at Montreux Jazz Festival
GMT 14:39 2017 Thursday ,09 March
Prime Minister Opens Information and Communication Technology Conference
GMT 23:20 2017 Sunday ,03 September
Top 14 champions Clermont sink Toulon in rematch
GMT 06:36 2017 Thursday ,09 March
Suicide attack in Iraq kills 30 persons and injured 45
GMT 13:36 2016 Wednesday ,04 May
Czech nominates squad for 2016 World Ice Hockey Championship
GMT 07:58 2017 Thursday ,07 December
World leaders slam Jerusalem move
GMT 04:19 2016 Wednesday ,23 November
VP launches UAE University Science and Innovation Park
GMT 16:59 2017 Monday ,06 November
Saudi warns Iran it will not tolerate 'any infringement' of its security
GMT 12:06 2017 Thursday ,11 May
Venezuela protesters fling faeces at soldiers; unrest takes 2 more lives
GMT 16:04 2017 Sunday ,11 June
Turkey says Qatar deployment aims to ensure security
GMT 05:24 2017 Sunday ,09 July
‘Reviving euro zone inflation still long way off’
GMT 19:31 2017 Thursday ,23 February
'In negotiations' to fight Amir Khan
GMT 14:07 2016 Tuesday ,06 December
‘Kashta’ and ‘Amer: An Arabian Legend’ win honors at Qatar festival
GMT 07:35 2017 Sunday ,28 May
Hotel occupancy in Oman up 18% in first quarter
GMT 17:44 2016 Wednesday ,08 June
Over 20 killed, scores injured in al Nusra shelling of Aleppo
GMT 12:55 2017 Wednesday ,20 September
Obama begins lucrative turn as Wall Street speaker
GMT 14:15 2016 Monday ,26 December
GACA to invite bids for cargo operator’s license
GMT 16:52 2017 Wednesday ,22 March
German's parliamentary delegation visits Tunisia
GMT 19:23 2017 Friday ,25 August
Yangtze's megacities seek closer ties with ASEAN
GMT 20:53 2017 Thursday ,16 March
Arab Parliament, Arab Human Rights Committee Sign MoU
GMT 11:31 2017 Wednesday ,20 September
Saudi Arabia to unblock internet calling apps
GMT 12:13 2017 Thursday ,09 March
Bayern Munich’s Xabi Alonso decides to ‘end career earlier rather than too late’
GMT 16:28 2017 Saturday ,04 March
Sudamin cooperates with Sudanese Ministry of Finance
GMT 05:21 2017 Monday ,30 October
Barzani to step down as Kurdish leader in Iraq
GMT 21:13 2017 Monday ,22 May
Arab Atomic Energy Agency's Conference Begins in Tunisia
GMT 23:51 2017 Friday ,03 March
Hyundai reveals dramatic changes in Sonata facelift
GMT 17:48 2018 Tuesday ,25 September
Afridi lauds LEAs role during Muharramul Haram’s Ashura
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor