Lebanese central bank adds to forex reserves saying pound is stable

(MENAFN)The Lebanese central bank governor mentioned on Tuesday that the bank has the foreign-currency reserves that are essential to keep the pound steady against the US dollar at its fixed rate for the predictable future.

He also said in an interview that since June the central bank has been operating in three financial procedures in order to uphold the high levels of dollar assets and to help banks to secure their credit portfolios.

"The reserves of the central bank are now at $44.3 billion, so it is a record high," Salameh clarified at the headquarters of the central bank in Beirut. "These operations have contributed in increasing the dollar assets of the central bank." He continued.

Salameh however; refused to say by how much dollar assets had increased as a result of the three operations, but he said Lebanon's foreign currency reserves reached $40 billion at the beginning of the year.

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