cross-posted from: https://exploding-heads.com/post/79619
Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years.
The shift from the old rate of 1,507 to 15,000 is still far off the parallel market rate of around 60,000.
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