The rapid fluctuation of the dollar exchange rate against the Lebanese pound has occupied the Lebanese analytical community in reading financial developments, their size and repercussions, not only from an economic and social point of view, but from a sensitive political point of view. , especially on the eve of the end of the mandate of President Michel Aoun, and the possibility of the Baabda Palace becoming vacant for an unpredictable period in light of the lack of consensus between parties and parliamentary blocs, as demonstrated by the last three parliamentary sessions in which whites the report was presented or the quorum was not reached (86 Members attended).
The dollar exchange rate reached a record it did not reach since the start of the financial crisis in the last months of 2019, as the price of one dollar exceeded 40,000 Lebanese pounds, to drop to around 34,000 pounds in 24 hours, a decrease of about 6 thousand pounds!
This decline was preceded by the issuance of a statement by the governor of the Banque du Liban, similar to many previous statements and circulars confirming the existence of systematic manipulation across exchange rate platforms governed by political developments and external intervention. And the governor of the Banque du Liban, Riad Salameh, announced in this statement that “on the basis of Articles 75 and 83 of the Monetary and Credit Law, the Banque du Liban, through an exchange platform, will exclusively sell the US dollar, starting from next Tuesday, knowing that from then and until further notice he will not be a buyer of the dollar through the platform ”.
This banking decision is reflected in the injection of dollars into the Lebanese markets, which will result in a temporary drop in the exchange rate, as the release also preceded the Central Bank’s purchases of dollars from the market, which explained the rise. according to what was explained by the Lebanese economic circles. It is a cycle in which the country rotates between the central bank pumping the dollar and its withdrawal at a later date, and one of its peaks will reach the end of this month.
Sources from the “Trenches” website revealed that “a game that Salama is playing during the end of the term of President Aoun, as he holds a sum of up to $ 700 million which he will not place in the Lebanese financial market until Aoun it will not go away “. the Baabda Palace, and this will contribute to a significant drop in the dollar exchange rate. “It also insures the price of fuel to restore electricity at a rate of 6 hours a day.” This is within the framework of the systematic campaigns that have been working over the past four years to besiege and counter the “Pact” and block the way for initiatives aimed at improving conditions in the country due to what is known of President Aoun’s political alliances, to which he remained faithful, despite internal and external pressures. To send a clear message, on the other hand, Al-Ahed brings the causes of the crisis and states that the salvation of the Lebanese people lies in a president outside the circle of Hezbollah and its alliances.
This manipulation and the clear management of crises in the black rooms leave questions about the responsibility of the bank ruler and his supporters in placing the financial security and therefore the social and social stability of the country hostage to political disputes and “intrigue” governed by the agenda. of foreign embassies.
