In response to reports of fake $50 notes in circulation, the syndicate of moneychangers in Lebanon, headed by Majed Walid al-Masri, released a statement on Thursday.
According to the text, the problem is “greatly exaggerated.” The syndicate said it came to this conclusion “after coordinating with the relevant security services, which conducted thorough investigations, and following exchanges with several licensed moneychangers in different regions.”
According to investigations, the current state of affairs is identical to what is seen at times when cash is normally in circulation. “Moneychangers can quickly spot counterfeit currency and dispose of it with ease,” the press release added.
The syndicate noted that this issue “needlessly caused unjustified fear and panic among the public as well as on the foreign exchange market.” Additionally, it emphasized that “the situation remains under control, with no cause for undue concern” and that the issue is easily resolved.
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