The Lebanese Central Bank has recently stated in an announcement made on March 21 that the Sayrafa rate was increased to LBP 90,000 per USD requesting banks and Tier “A” exchange houses to accept all new customers’ requests on sayrafa transactions related to BDL basic circular 161 at the aforementioned exchange rate. This comes in an attempt to curb the frantic rise of the US Dollar against the Lebanese Pound in the black market and to preserve the value of Lollar deposits. In details, the Central Bank has commented that banks may halt their strike to participate in the Sayrafa process, while adding that clients will receive back the exchanged amounts within a period of 3 business days. Said move has succeeded rapidly in curbing the depreciation of the Lebanese Pound against the dollar, from around LBP 140,000/USD at the beginning of the week to just below the LBP 106,000/USD level mark.