Central Bank to control
foreign exchange market
To set up trading division and
electronic platform to post prices
The Central Bank (BDL) has set up a department specialized in the trade of foreign currencies, in particular the US dollar.
Licensed foreign exchange companies can participate in trading after obtaining BDL’s approval.
The Central Bank will also set up an electronic platform to publish the trading prices of foreign currencies especially the dollar. In addition to BDL, the platform will also include the banks and foreign exchange companies.
The new arrangement, which will remain in place for six months, aims to face the sharp decline of the exchange value of the lira.
Reported by Shikrallah Nakhoul
Date Posted: Apr 03, 2020