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Report: Lebanon Planning to Devalue Currency by 93%, Depositor | CryptoClan (ENG)

Report: Lebanon Planning to Devalue Currency by 93%, Depositors to Lose $38 Billion

The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency at different exchange rates.