Lebanese central bank to intervene to protect Lebanese pound, PM says

Lebanon’s central bank will intervene in the market starting on Thursday to protect the Lebanese pound, whose declining value has forced up the price of food and other commodities, Prime Minister Hassan Diab said.

The pound has lost more than half of its value since October as Lebanon has sunk deeper into a financial crisis that’s considered the biggest threat to its stability since the 1975-90 civil war.