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  • Lebanon Opportunities

    Monetary issues

    Dec 06, 2019 4 minutes

    LIRA IS GAINING MARKET SHARE

    ne of the very few benefits from the economic crash and the liquidity squeeze is that the local currency has regained market share. Since the end of the civil war, the local currency was mostly symbolic and used only in public sector transactions. Private sector transactions, even those denominated in lira, were pegged to the US Dollar. The economy thought and planned in dollars. Following the crash, the Central Bank and the local banks have forced the economy to restrict its dealings to the lira. It has been a painful conversion, which, at the time of this writing, has not been yet fully absorbed by the market.

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