Secretary General of the Association of Banks
It is obvious that the exchange rates of any currency in any country are organically linked to the structure of that country’s economy including, in particular, the structure of its external payments with the rest of the world. Robust trade and financial exchanges of a country’s economy with global markets strengthen its currency, likewise a decline in exports and an increase in imports are mirrored in a weak currency.
Divergent views
External flows include, in the first place, trade in goods and services, then income and transfers, and finally cross-border capital flows, especially direct investments and portfolio investments. Besides these items, exchanges with the outside world include local bank deposits of non-residents as well as deposits held in banks abroad by Lebanese nationals residing in Lebanon. The latter has been an appetite-whetting writing material for some people for more than a year with very divergent viewpoints. In my opinion, some or
