A man walks past the Lebanese central bank in Beirut, Wednesday, Nov. 8, 2017. (The Daily Star/Mohammad Azakir)
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Interbank rates in Lebanese pounds surged up to 15 percent Tuesday but eventually returned to their normal levels, a banker said Wednesday.Reuters also reported Wednesday that Lebanon's June 2020 bond dropped 2.6 cents to 95.3 cents in the dollar, the lowest since the bond was issued in June 2013 .Reuters said the cost of insuring exposure to Lebanese and Saudi Arabian debt hit the highest since late 2008 and July this year, respectively.It added that Lebanon, which was thrown back into political limbo by the resignation of Saudi-backed Prime Minister Saad Hariri, saw its five-year credit default swaps jump 13 basis points from Tuesday's close to 592 bps.
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