The Central Bank in Beirut, Tuesday, Oct. 6, 2015. (The Daily Star/Mohammad Azakir)
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Lebanese commercial banks deposited around $2.5 billion in both dollar and Lebanese pound currency in Banque Du Liban for 10 years with an average interest rate between 6 and 7 percent to beef up BDL's foreign currency reserves, bankers said Friday.In July, Lebanese commercial banks hiked interest rates on dollar and Lebanese pound deposits to attract funds from local and international markets.Nearly all banks interviewed by The Daily Star confirmed reports that they have increased interest rates on Lebanese pound deposits by 1 percent and 0.5 percent on dollar deposits, depending on the amount and duration of the deposits. Further, the deposits of commercial banks at BDL totaled $89.6 billion at end-June 2017, constituting a marginal increase of 0.4 percent from end-2016 and a growth of 19.1 percent from a year earlier.
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