kareem_nasser wroteTrue, since 1990s the real value of the dollar is around 3000 by supply and demand. But some say not just the "financial engineering" fixated the rate but also politics.
It's not politics or financial engineering, the thing is that the government and BDL wanted to borrow money, but the banks wouldn't accept because the LBP rate was fluctuating.
So BDL reassured the banks by fixing the rate at 1500 LBP/USD so they can lend him money despite the huge interest rate.
As of today, the rate is still 1515 and BDL is doing its best to protect the money of the banks ( not people ) although a much higher rate would mean less debts but nevertheless they insist on it.