Lebanon Businessnews News
 

Lira in no Immediate Threat
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 Riad Salameh, the governor of the Central Bank, said that the bank has the capability to intervene in the markets should the lira come under pressure. The Central Bank is in a position to do so since it has foreign assets that exceed $30 billion.The Central Bank has sustained an exchange rate of 1,501-1,514 lira to the dollar for the past 15 years. Higher interest rates. High interest rate and the stability of the exchange rate attracted funds into the country where bank deposits reached $110 billion by the end of 2010, said Salameh.

  
 

 

Date Posted: Jan 14, 2011
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