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Central Bank Governor: Banks’ foreign exchange reserves increased by approximately $1.4 billion

Aug 31

Central Bank Governor: Banks’ foreign exchange reserves increased by approximately $1.4 billion

NNA - The following statement was issued on Friday by Lebanese Central Bank Governor Mr.Riad Toufic Salame:

“The Central Banks’ foreign exchange reserves increased by approximately 1.4 billion of dollars (One billion and four hundred million dollars), during the second half of the month of August, to reach approximately thirty eight billion and six hundred sixty million dollars, at the end of the month of August 2019 (variation and final balance exclude gold).

This increase is due to the influx of deposits from the non-resident private sector, directly to BDL (and not due to sovereign or state deposits).

This increase ensures the solvency of Lebanon and strengthens the stability of the Lebanese Pound and reduces the Balance of Payments deficit.

The Central Banks’ foreign exchange reserves increased by approximately 1.4 billion of dollars (One billion and four hundred million dollars), during the second half of the month of August, to reach approximately thirty eight billion and six hundred sixty million dollars, at the end of the month of August 2019 (variation and final balance exclude gold).

This increase is due to the influx of deposits from the non-resident private sector, directly to BDL (and not due to sovereign or state deposits).

This increase ensures the solvency of Lebanon and strengthens the stability of the Lebanese Pound and reduces the Balance of Payments deficit.

Nna-leb