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Banque Du Liban: Total deposits decline by LBP300 billion this week

This is due to drop in foreign currency deposits by $156 million and in Lebanese pound deposits by LBP53bn

Total deposits, with the exception of under-demand deposits, declined by LBP289 billion during the week ending December 17, 2015.

This decline came as a result of a drop in foreign currency deposits by $156 million and in deposits in Lebanese pounds by LBP53bn, reports UAE-based Aliqtisadi.

Lebanon’s Money Supply (M3) improved by LBP85bn during the week ending December 3, 2015, and reached LBP184.256bn, advancing by 4.84 per cent compared with the same period in 2014 and by 3.87 per cent since the beginning of the year.

At the same time, Money Supply (M1) advanced by LBP373bn due to the increase in under-demand deposits by LBP41bn and the increase in cash in circulation by LBP332bn.

Thus, the dollarisation of money supply advanced from 57.93 per cent in November 26 to 57.77 per cent in December 3, and the interbank rate advanced from 2.75 per cent at the end of August 2015 to 3 per cent by the end of September.

($1 = AED3.67, LBP1 = AED0.0024 at the time of publishing)