Tuesday, January 15, 2019

Money Transfers to Be Paid in Lebanese Local Currency Instead of US Dollar

All money transfer offices must pay cash wired electronically from abroad to the recipients in Lebanese pounds only and not in U.S. dollars, Lebanon’s Central Bank announced Monday.

A source told The Daily Star that one of the reasons behind this decision could be to encourage the use of the national currency. “The money transfer offices will probably convert the dollars they have to the Lebanese pound and this will increase demand for the national currency,” the source explained. Read More