Lebanese banks have mostly locked depositors out of their dollar accounts and blocked transfers abroad.
Under a central bank circular last year, depositors were permitted to withdraw dollars, with the funds paid in the local currency at a rate of 3,900 pounds to the dollar.
That is only about a third of the value of dollars on the black market, but has been the only way many Lebanese have been able to access their funds.
The central bank statement did not make clear if an alternative system would be introduced to allow access to dollars in accounts.
Published: June 3, 2021 08:27 AM
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