Lebanon's central bank said it has entirely ceased providing dollars for gasoline imports in a move that will likely lead to higher and more volatile prices as well as increased pressure on the local currency which has been steadily losing value. Although the central bank had said last year it would stop providing dollars at heavily-subsidised exchange rates due to dwindling foreign currency reserves, it continued to do so at a rate below market prices on its Sayrafa exchange platform. But in recent weeks, it gradually reduced the amount of dollars it provided via Sayrafa, part of a wider plan to end subsidies for most goods amid a financial collapse that has entered i
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