Lebanon Reverses Dollar-Deposit Rule After Night of Confusion
People wait to use ATM machines outside a bank in Beirut, on June 2.
Photographer: Hassan Ammar/AP PhotoThis article is for subscribers only.
Lebanon scrapped a new dollar-deposit rule Thursday that triggered minor street protests and meant savers lost the ability to change their money at a more favorable rate.
A day after the Shura Council, the country’s top judicial body, banned a long-standing rule allowing depositors to access their dollars at a rate higher than the official currency peg, Riad Salameh, the governor of Banque du Liban, said the decision was being revoked.