Previous Close | 1.2317 |
Open | 1.2318 |
Bid | 1.2325 |
Day's Range | 1.2302 - 1.2345 |
52 Week Range | 1.0379 - 1.3643 |
Ask | 1.2324 |
BEIRUT (AP) — Three years into a crippling financial crisis, Lebanon's Central Bank on Wednesday set a new exchange rate that effectively devalued the country's currency by 90% but did little to bridge the gap with the soaring black market rate. The dramatic measure is meant to stabilize the free-falling Lebanese pound and eliminate the multiple exchange rates that currently exist, a key demand of the International Monetary Fund for a bailout package for Lebanon. The new rate set Wednesday is 15
The Bank of England is expected to increase interest rates for the 10th consecutive time on Thursday in another blow to mortgage holders.