March 6, 2018 / 9:01 AM / 3 months ago

Lebanese c. bank says dollar reserves climb by $1.4 bln in first two months of year

BEIRUT, March 6 (Reuters) - The Lebanese central bank’s dollar reserves climbed by $1.4 billion in the first two months of the year and its total assets in dollars exceeded $43 billion, its governor said on Tuesday.

Riad Salameh gave the figure in a speech to an economic conference in Beirut. He earlier told Reuters the general reserve of the central bank and its assets in foreign currencies had increased by $1.5 billion in the first two months.

Salameh also told Reuters that November’s around 2 percentage point increase in local currency interest rates had been sufficient to iron out market imbalances, “therefore we have an outlook of stable interest rates”. (Reporting by Lisa Barrington; editing by John Stonestreet)

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