Lebanon’s finance and budget committees approved on Tuesday a draft law allowing larger banknotes to be printed as the country continues to experience hyperinflation. The draft law enables the Lebanese Central Bank to print notes larger than 100,000 Lebanese lira ($1.05 USD), currently the largest denomination in the country. The law will now be forwarded to the general assembly, where it will be voted on before becoming law. The Central Bank is reportedly considering creating 500,000 and 1 million lira banknotes, equivalent to about $5 and $10, respectively at current parallel market rates. Lebanon’s currency has lost over 98 percent of its value since the beginning
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