BEIRUT, March 21 (Reuters) - Lebanon's central bank
governor Riad Salameh said on Tuesday that the institution's
exchange platform, Sayrafa, would begin selling unlimited
amounts of U.S. dollars in a bid to halt the spiralling
devaluation of the Lebanese pound.
Salameh set the new Sayrafa rate at 90,000 Lebanese pounds
per dollar. The Lebanese pound's parallel market rate had
weakened from roughly 121,000 to the U.S. dollar on Tuesday
morning to 140,000 by the afternoon, and began rising in value
immediately after the decision was announced.
(Reporting by Laila Al Bassam, Writing by Maya Gebeily, Editing
by Andrew Heavens)
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