Floating the lira exchange rate under study: expected rise to 200,000… and it could reach 500,000!

Cross-checked information from government circles and Western embassies in Lebanon indicates that Banque du Liban Governor Karim Saeed is studying an urgent step to liberalize the exchange rate and leave it to market mechanisms. If the decision is implemented, the dollar is expected to jump quickly from around 89,000 lira to about 200,000, with the possibility of reaching levels as high as 500,000 within weeks, according to the newspaper Al-Akhbar.