BANKS EXTEND TRADING HALT IN LEBANESE POUND
Lebanon's Bankers Association said it
extended its suspension of trading in the Lebanese pound for
two more working days to study ways to stem the currency's
collapse.
    The Central Bank did not post the rate of the pound to the
dollar and other currencies on Monday. The pound closed on
Thursday at 407.00/412.00 to the dollar compared with
Wednesday's close of 384.00/386.00.
    Association sources told Reuters Friday's suspension of
trading for two working days was continued on Monday for two
more days so as to study proposals to reinforce the pound.
    The Association, which comprises 106 commercial banks in
east and west Beirut, halted trading on Friday in a chaotic
market after the pound crashed to four record lows in the week.
    The pound, hit by the inability of Lebanon's religiously
and ideologically divided government to end 12 years of civil
war, has lost more than 80 pct of its international value this
year.
 REUTER
