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Lebanon sees decline in pound interbank rate
(MENAFN) Lebanon, according to a couple of banking sources, saw a decline in its overnight interbank rate for the pound to reach 15 percent.
The decline was explained to have been driven by a hike in liquidity following last week's surge to 75 percent, marking the highest rate to be seen in a year.
The interbank rate for the Lebanese pounds however was unveiled by another source to have stood on Monday between 10 and 15 percent.
A source reported that the rate is "calming down for the time being. Last week it was a bit squeezed."
The decline was explained to have been driven by a hike in liquidity following last week's surge to 75 percent, marking the highest rate to be seen in a year.
The interbank rate for the Lebanese pounds however was unveiled by another source to have stood on Monday between 10 and 15 percent.
A source reported that the rate is "calming down for the time being. Last week it was a bit squeezed."
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