The Central Bank of Lebanon said in a statement, today, Thursday, that it had decided to extend the deadline Withdrawing from dollar deposits to January 31.
On December 16, the bank stated that it would provide banks with US dollars through the foreign exchange platform (exchange), so that banks could exchange amounts in dollars to deposit holders instead of exchanging them in Lebanese pounds.
Last June, the Central Bank of Lebanon announced that depositors of accounts holders that existed on October 2019 will be able to receive $400 per month, in addition to its equivalent in Lebanese pounds.
In the past, Lebanese banks often prevented depositors from withdrawing from their dollar accounts, as well as transfers abroad.
Under a Central Bank circular issued last year, depositors were allowed to withdraw in local currency from their dollar accounts at the fixed exchange rate of 3900 pounds to the dollar.
That represents about a third of a dollar’s value on the black market, but it was the only way for many Lebanese to get their money.