Lebanon’s central bank to inject dollars as currency crashes
The Lebanese pound trades at roughly 6,000 to the US dollar on the black market; Lebanese officials take action to try to get the parallel market under 4,000 to the dollar.
The central bank in Lebanon will inject fresh dollars into the market beginning next week, President Michel Aoun said today after protests reignited over deteriorating living conditions and a collapsing currency.
After an emergency Cabinet meeting, Aoun announced plans for "feeding dollars into the market” to stabilize the fast-depreciating currency.
