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Lebanese Pound

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Lebanese Pound
The currency of Lebanon. It was introduced in 1939, replacing the Syrian pound, though both were pegged to the French franc at the same rate and were therefore worth exactly the same. It was pegged to the British pound briefly during World War II, and suffered a great deal of inflation during the Lebanese Civil War. The Lebanese pound is also called the Lebanese lira because its Arabic name derives from the Ottoman lira.


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Aa Interest rates on the Lebanese pound and treasury bills continued to drop this year as the central bank encouraged commercial banks to lend the private sector in Lebanese currency and low rates.
He stated that despite the current continuous inflow of deposits and ongoing conversions from US dollars to Lebanese pounds, these will eventually be negatively affected if the government crisis continues, according to AN NAHAR.
The central bank has urged Lebanese banks to lend more in Lebanese pounds instead of dollars to reflect a shift in bank deposits from foreign currencies to the local currency.
 
 
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