Lebanon changes fuel imports exchange rate, effectively raising prices - central bank - Reuters

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Lebanon's Central Bank Governor Riad Salameh speaks during an interview with Reuters at his office in Central Bank in Beirut, Lebanon October 24, 2017.REUTERS/Jamal Saidi/File Photo

DUBAI, Aug 21 (Reuters) - Lebanon's government has decided to change the exchange rate used as a base for fuel imports, Central Bank Governor Riad Salameh told Reuters on Saturday, effectively increasing retail prices.

The government will price fuel imports at a rate of 8,000 pounds per dollar starting Saturday, he said, versus 3,900 pounds per dollar previously.

The decision is meant to ease crippling fuel shortages.

Reporting Laila al-Bassam and Thomas Perry; writing by Maher Chmaytelli; Editing by Giles Elgood

Our Standards: The Thomson Reuters Trust Principles.

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Lebanon changes fuel imports exchange rate, effectively raising prices - central bank - Reuters
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