تطبيقات وهمية للتلاعب بسعر الصرف… ماذا يفعل المصرف المركزي؟

Fake Apps Manipulate Exchange Rates… What is the Central Bank Doing?

In response to concerns about delayed payments, it is emphasized that any delay from the banks is likely logistical, as the Central Bank has already transferred these funds to the banks. There is no need for concern, as the banks will distribute the funds to depositors quickly.

Regarding the exchange rate and rumors about certain apps, it’s confirmed that these are “fake apps” exploiting citizens through unauthorized currency traders to artificially inflate the exchange rate and push people to buy dollars at a higher price. In reality, the Central Bank of Lebanon has set the exchange rate at around 89,500 Lebanese pounds per dollar, and it remains unchanged for several reasons:

• The Central Bank is currently injecting $200 million in fresh dollars into the market through the mentioned circular, in addition to $120 million for public sector salaries. This means a total of $320 million has entered the market.

• Financial matters are well-controlled between the Central Bank and the Ministry of Finance, whether the monetary supply is in Lebanese pounds or dollars. There is no reason for concern, as the total monetary supply in Lebanese pounds in the market will not exceed $700 million. The Central Bank can buy part of this supply, maintaining monetary stability and preventing a collapse in the exchange rate.

The Central Bank is managing the situation by supplying the market with dollars. As for manipulators, there is a clear agreement between Acting Governor of the Central Bank, Wassim Mansouri, and Lebanese authorities to pursue these speculators. The Information Branch and other specialized agencies are handling this matter, and those involved in manipulating the market will be held accountable.

Jibai concludes on a reassuring note, stating that “the exchange rate is stable from all scientific and logical perspectives.” The Central Bank’s reserves cover any fluctuations in the exchange rate, so there is no need to fear for the Lebanese pound, even if the war drags on and the Lebanese state exhausts its accounts in both Lebanese pounds and dollars. The Central Bank, in coordination with the government, had already implemented a preemptive plan, ensuring the stability of the pound now and in the future.