Lebanese pound slides further despite new pricing system

Lebanese pound slides further despite new pricing system

The government and money changers last week launched a unified pricing system, with a gradually reduced rate announced each day with the aim of reaching 3,200 pounds.. As part of the scheme, money changers on Wednesday set a buying price of 3,890 and selling price of 3,940 and the central bank said dealers who did not comply would be penalized.. The central bank said on Wednesday a new electronic foreign exchange trading platform would go live on June 23 as part of further efforts to stabilize the currency.. The Lebanese pound's collapse has threatened renewed unrest as Beirut negotiates an IMF program tied to billions of dollars in financing to kickstart a recovery.. Fresh protests erupted late on Tuesday in Beirut and Tripoli, triggered in part by the currency crisis..