Latest Currency pegging News

FILE - In this Nov. 11, 2019 file photo, Riad Salameh the governor of Lebanon's Central Bank, listens to a journalist's question during a press conference, in Beirut, Lebanon. Salameh was touted as the guardian of Lebanon’s monetary stability as he steered the tiny country's finances through post-war recovery and various bouts of unrest for nearly three decades. Now, Lebanon’s long-serving central bank governor is being called a “thief” by some protesters, who accuse him of being part of the ruling elite whose corruption and mismanagement has driven the country to the edge of bankruptcy. (AP Photo/Hussein Malla, File)

Lebanon crisis brings mixed legacy for central bank governor

May. 28, 2020 2:14 AM EDT

BEIRUT (AP) — Touted as the guardian of Lebanon’s monetary stability, he steered the tiny country's finances for nearly three decades, through post-war recovery and bouts of unrest. Now, Lebanon’s central bank governor is being called a “thief” by some anti-government...

Lebanese riot police stand guard in front of a bank entrance, after the anti-government protesters try to destroy banks windows during a protest against the Lebanese central bank's governor Riad Salameh and against the deepening financial crisis, at Hamra trade street, in Beirut, Lebanon, Thursday, April 23, 2020.   (AP Photo/Hussein Malla)

Lebanon PM blames currency crash on Central Bank governor

Apr. 24, 2020 2:35 PM EDT

BEIRUT (AP) — Lebanon’s prime minister said Friday he is holding the country's Central Bank governor responsible for the downward spiral of the national currency, accusing him of pursuing “opaque” policies that sent the pound crashing against the dollar. The government has agreed with...

Lebanese citizens queue outside a Western Union shop to receive their money transfer in U.S. dollar currency, after the Central Bank circular issued this week, money transfer houses and banks are required to convert foreign currency transfers and cash withdrawals from foreign currency bank accounts to local currency at a market rate, in Beirut, Lebanon, Thursday, April 23, 2020. Lebanon's currency continued its downward spiral before the dollar on Thursday, reaching a new low amid financial turmoil in the crisis-hit country. (AP Photo/Hussein Malla)

Lebanon's currency on downward spiral amid financial turmoil

Apr. 23, 2020 2:19 PM EDT

BEIRUT (AP) — Lebanon’s currency continued its downward spiral against the dollar on Thursday, reaching a new low amid financial turmoil in the crisis-hit country compounded by the coronavirus outbreak. The currency crash came as hundreds of Lebanese – most of them wearing face masks but few...