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 Economic Health
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Prime Rate on the Dollar Rises to 8 percent
Posted on: 10/11/2006 5:25:00 PM

Banks have decided to raise the prime rate on the dollar in the Beirut exchange market from 7.75 percent to eight percent, and to maintain the prime rate on the lira at 10.3 percent. The increase in the prime rate is attributed to the rise in the cost of the dollar in international markets, and they said that they expect the cost of the dollar to increase in the coming period, which will lead to an increase in the local interest rate, despite the fact that in the previous period it was decreasing worldwide. Some banks have begun to spend eight percent on dollar deposits in an attempt to attract deposits from other banks in order to increase their budgets by the end of this year.


2007 Presidency of the Council of Ministers. All Rights Reserved.
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