BEIRUT (Reuters) – Lebanon’s economic rescue plan passed on Thursday is based on an exchange rate of 3,500 pounds to the dollar, an official source told Reuters.
Lebanon has maintained a dollar peg of 1,507.50 pounds since 1997 but the currency has fallen sharply since October on a parallel market, hitting over 4,000 pounds last week.
(Reporting by Samia Nakhoul; Writing by Eric Knecht; Editing by Kevin Liffey)
