Lebanon on Wednesday adopted a new official exchange rate of 15,000 pounds per U.S. dollar, the central bank said in a statement, marking a 90% devaluation from the previous rate that has remained unchanged for 25 years, APA reports citing Reuters.
On Tuesday, central bank governor Riad Salameh told Reuters the planned change was a step towards unifying the various exchange rates in the country, in line with demands by the International Monetary Fund.