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BDL: Asset Re-Valuation Adjustment
Series ID 3150
Currency code LBP
Source Economena Analytics, Banque du Liban
Aggregation End of Period
Note Effective February 1, 2023, Banque du Liban (BDL) announced a change of Lebanon's official exchange rate from 1,507.5 LBP / USD to 15,000 LBP / USD. This change impacted the value of the assets and liabilities in LBP which is reflected in the Valuation Adjustments account. Re-valuation Adjustment includes provisions of articles 75 and 115 of Code of Money and Credit. 1. In accordance with the provisions of Article 75 of the C.M.C. and based on the Central Council's decision 1/14/23 dated 4/26/2023, a special account called the "Exchange Stabilization Fund" was opened at BdL, in which all the transactions related to FX intervention to stabilize the exchange rate starting 2020 were recorded. The balance of the fund up to 10/31/2023 equals LBP 123.93 Trillion. 2. Article 115 of C.M.C. that mentions a special account shall be opened in the name of the Treasury for the following entries; a) The differences between the countervalue, at the legal parity rate, of the Bank's gold and currency holdings, and the actual purchasing or sale value of these holdings, b) The profit or loss entailed by the Bank's gold and currency holdings from the alteration of the legal parity rate of the Lebanese Pound or of a foreign currency and the sums referred to in articles 55 and 64. The balance of this account up to 10/31/2023 equals LBP 522.54 Trillion.