According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets fell by 38.32% compared to last year, to reach $103.26B by mid-May 2023, amid adopting the 15,000 LBP/USD official rate by BDL. The fall was mainly due to the 82.08% year-on-year (YOY) drop in other assets, grasping 11.58% of BDL’s total assets and reaching $11.96B by mid-May 2023. Furthermore, the gold account, representing 18.01% of BDL’s total assets, increased by 10.63% yearly to reach $18.59B by mid-May 2023.
BDL’s foreign assets, consisting of 14.1% of total assets dropped by 9.36% YOY and stood at $14.56B by mid-May 2023, noting that BDL holds in its foreign assets $5B in Lebanese Eurobonds. On a different note, total volume of dollars on Sayrafa platform reached $1,288.75M in the first two weeks of May 2023, meanwhile, BDL’s foreign assets increased by $101.33M during the same period.
On the liabilities front, financial sector deposits, representing 87.16% of BDL’s total liabilities, decreased by 19.04% and reached $90B by mid-May 2023 compared to last year, of which more than 90% are denominated in dollars. Lastly, currency in Circulation outside of BDL, consisting of 4.80% of BDL’s total liabilities, plunged by 81.66% annually to reach $4.96B by mid-May 2023 amid adopting the 15,000 LBP/USD official rate by BDL.
BDL Total, Foreign assets and Currency in Circulation by mid-May 2023 ($B):
Source: BDL, Blominvest
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