March 29, 2018 / 6:21 AM / a year ago

Lebanon central bank governor says won't devalue pound -Daily Star

BEIRUT, March 29 (Reuters) - Lebanon’s Central Bank Governor Riad Salameh is not considering devaluing the Lebanese pound, which is pegged to the dollar, he was quoted as saying in an interview with the English-language Daily Star published on Thursday.

“We are not considering any devaluation because we believe that it will be detrimental to confidence, detrimental to the economy and interest rates will go up much more,” he was quoted as saying.

The pound has been pegged at its current level to the dollar for 20 years. ($1 = 1,510.0000 Lebanese pounds) (Reporting By Angus McDowall; editing by John Stonestreet)

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