The “Lebanese Depositors Association” slammed the decision to extend the work of Circular No. 151 which calls for an exchange rate of 3900 LL per US dollar .
The current rate of exchange in the parallel market more than 4 times the above rate .
The proposed rate represents a haircut for the depositors between 80 to 90 % based on the current blackmarket exchange rate
The Depositors Association called for “going to the banks starting tomorrow, occupying them and staying in them, and for a sit-in in front of the branches of the Banque du Liban in all regions, and for sit-in in front of the Central Banque du Liban,
The Depositors Association also called on all bank employees to avoid confronting depositors.”