The Latest Breaking News from central bank

The Lebanese pound has lost 95% in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars to bypass what’s seen as a nearly useless currency

A recent move by Lebanon’s Central Bank (BDL) to offer to sell the cash dollar through its platform at the rate of LBP 70,000 has temporarily curbed the rapid collapse of the national currency. The price margins of cash trading in the parallel markets fell to around LBP 80,000 per…

Beirut’s public prosecutor on Thursday charged the governor of Lebanon's Central Bank, Riad Salameh, his brother and an associate with corruption, Lebanese officials said. According to two judicial officials, Beirut's Attorney General Raja Hamoush charged Salameh, his assistant Marianne Howaiyak, and his brother Raja Salameh with embezzling public funds, forgery,…

Officials from the Central Bank of Iraq, the US Federal Reserve Bank and the US Treasury have met in wake of the drop in the Iraqi dinar's value against the US dollar, creating severe fluctuations in the prices of most commodities and foodstuffs. Economic sources said Washington gave Iraq an…

Lebanon's veteran central bank chief Riad Salameh said he would not seek a new term in office once his latest six-year stint at the head of the Banque du Liban ends. "My decision is that, at the end of the term, it will be a page I turned in my…

The majority of central banks in the Gulf region raised the main interest rates on Thursday, following a decision by the US Federal Reserve to raise its key policy rate by 0.25%, in an effort to counter inflation. Qatar kept the interest rate unchanged, while the Saudi Central Bank (SAMA),…

The Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, issued on Thursday a royal order appointing Ayman bin Mohammed bin Saud Al-Sayyari as Governor of Saudi Central Bank at the rank of minister. The King relieved Dr. Fahd bin Abdullah bin Abdullatif Al-Mubarak as Governor of…

In recent weeks, Iraq’s currency has taken a plunge, largely as a result of newly imposed measures that have restricted dollar transfers from the United States

Lebanon’s Central Bank has set a new exchange rate that effectively devalues the country’s currency by 90% but did little to bridge the gap with the soaring black market rate