Lebanon central bank stops providing dollars for gasoline imports

BEIRUT  – Lebanon’s central bank has ceased providing dollars for gasoline imports, a central bank spokesperson told Reuters, in a move that led pump prices to rise significantly on Monday.

The central bank last year said it would stop providing dollars at heavily-subsidized exchange rates due to dwindling foreign currency reserves but continued to do so at a rate below market prices on its Sayrafa exchange platform.

It had gradually reduced the amount of dollars it provided via Sayrafa over the past weeks.