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.
References in periodicals archive ?
Charafeddine said that BDL has been capable of maintaining exchange rate stability of the Lebanese pound with the support of its foreign currency reserves which have reached $39 billion in addition to its high level of gold reserves.
The second element is that by regaining the confidence of the market, vis a vis the Lebanese pound, and the increase in deposits in Lebanese pound, it has allowed the banks to start giving credits in Lebanese pound.
Higher inflationary expectations triggered a flight from the Lebanese pound into dollars, thus further depreciating the value of the pound.
The limited edition replica of the Lebanese pound note is created from a sheet of 99.
we expect more stability and confidence in the Lebanese pound and the banking sector in a way which bolsters Lebanon's economic abilities.
Lebanese pound Treasury bill rates have fallen steadily in line with the deposit surge.
The result has been impressive: the consolidated balance sheet of the country's commercial banks rose by just over 26 per cent in the year ending last September to reach 43,850 billion Lebanese pounds (LL), equivalent to about $28.
The Lebanese pound is still the currency of saving and there are a lot of people who have shifted their holdings into Lebanese pounds, who are quite happy and comfortable.
Interest rates on the Lebanese pound and treasury bills have continued to drop this year as the central bank encouraged commercial banks to lend to the private sector in Lebanese currency at low rates, economic reports said.
The Lebanese pound, infamous for its nosedive acrobatics in the past, actually appreciated 6% per cent against the dollar in 1993.
Out of domestic deposits, Lebanese pound deposits grew by 4.
Following the war Kuwait and Saudi Arabia deposited a substantial amount of money with the Lebanese Central Bank to keep the Lebanese pound stable.

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