Lebanon's Central Bank to Stop Bank Withdrawals from Dollar Accounts at Low Fixed Rate

A picture shows the value in Lebanese pounds of a 100 U.S. dollar bill on the black market exchange rate (1,500,000 LL) in Beirut, March 16, 2021. (AFP)
A picture shows the value in Lebanese pounds of a 100 U.S. dollar bill on the black market exchange rate (1,500,000 LL) in Beirut, March 16, 2021. (AFP)
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Lebanon's Central Bank to Stop Bank Withdrawals from Dollar Accounts at Low Fixed Rate

A picture shows the value in Lebanese pounds of a 100 U.S. dollar bill on the black market exchange rate (1,500,000 LL) in Beirut, March 16, 2021. (AFP)
A picture shows the value in Lebanese pounds of a 100 U.S. dollar bill on the black market exchange rate (1,500,000 LL) in Beirut, March 16, 2021. (AFP)

Lebanon's Central Bank said on Wednesday it would stop letting depositors withdraw money from dollar accounts at a fixed rate of 3,900 pounds per dollar, a rate far worse than on the black market but the only way many Lebanese had been able to access their funds.

Lebanese banks have mostly locked depositors out of their dollar accounts and blocked transfers abroad.

Under a central bank circular last year, depositors were permitted to withdraw dollars, with the funds paid in the local currency at a rate of 3,900 pounds to the dollar.

That is only around a third of the value of dollars on the black market.

The Central Bank statement did not make it clear if an alternative system would be introduced to allow access to dollars in accounts.



Clerics Accuse West Bank Israeli Settlers of Attacking Christian Sites

Latin Patriarch in Jerusalem Pierbattista Pizzaballa walks during the visit of the town of Taybeh, a Christian village in the Israeli-Occupied West Bank, following settler attacks, July 14, 2025. (Reuters)
Latin Patriarch in Jerusalem Pierbattista Pizzaballa walks during the visit of the town of Taybeh, a Christian village in the Israeli-Occupied West Bank, following settler attacks, July 14, 2025. (Reuters)
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Clerics Accuse West Bank Israeli Settlers of Attacking Christian Sites

Latin Patriarch in Jerusalem Pierbattista Pizzaballa walks during the visit of the town of Taybeh, a Christian village in the Israeli-Occupied West Bank, following settler attacks, July 14, 2025. (Reuters)
Latin Patriarch in Jerusalem Pierbattista Pizzaballa walks during the visit of the town of Taybeh, a Christian village in the Israeli-Occupied West Bank, following settler attacks, July 14, 2025. (Reuters)

Christian leaders accused Israeli settlers on Monday of attacking sacred sites in the West Bank, in violence that one said was forcing some to consider quitting the occupied territory.

The Greek Orthodox Patriarch of Jerusalem, Theophilos III - visiting the Christian town of Taybeh with other Jerusalem-based clerics - said settlers had started a fire near a cemetery and a 5th century church there last week.

"These actions are a direct and intentional threat to our local community ... but also to the historic and religious heritage," the patriarch told diplomats and journalists at a press conference in Taybeh.

Settlers had also attacked homes in the area, he said.

"We call for an immediate and transparent investigation on why the Israeli police did not respond to emergency calls from the local community and why these abhorrent actions continue to go unpunished," he added.

Israel's government spokesperson did not immediately respond to a Reuters request for comment. Israel's government had previously said that any acts of violence by civilians are unacceptable and that individuals should not take the law into their own hands.

During the visit, the heads of the churches led locals in prayer as candles flickered in the ruins of the 5th century church of St George. They spoke with residents who described their fears.

B'Tselem and other rights groups say settler violence in the West Bank has risen since the start of Israel's war against Palestinian group Hamas in Gaza in late 2023.

Dozens of Israelis have also been killed in Palestinian street attacks in recent years and the Israeli military has intensified raids across the West Bank.

Palestinian health authorities and witnesses said two men, including a US citizen, were killed by settlers during a confrontation on Friday night.

Fears over violence were pushing Christians to leave the West Bank, Cardinal Pierbattista Pizzaballa, the Roman Catholic Patriarch of Jerusalem since 2020, said.

"Unfortunately, the temptation to emigrate is there because of the situation," he added. "This time it's very difficult to see how and when this will finish, and especially for the youth to talk about hope, trust for the future."

Around 50,000 Christian Palestinians live in Jerusalem and in the West Bank, an area that includes many of the faith's most sacred sites including Bethlehem where believers say Jesus was born.

Around 700,000 Israeli settlers live among 2.7 million Palestinians in the West Bank and East Jerusalem, territories Israel captured from Jordan in the 1967 war, which Palestinians see as part of a future state.