The Lebanese government has held an emergency meeting to discuss the country's deepening financial crisis, hours after angry protesters filled the streets of Beirut and other cities.
The overnight demonstrations that turned violent were sparked by hikes in prices due to a sharp devaluation of the Lebanese pound over the past two days on the black market.
Prime Minister Hassan Diab headed the emergency meeting, attended by central bank Governor Riad Salameh, as fears grow that Lebanon is spiralling toward economic collapse.
Protesters gather and close roads in Beirut and the suburbs during anti-government rallies. Source: EPA
A government source close to the talks said the meeting ended after discussing ways to stabilise the Lebanese pound and stop its plunge against the US dollar.
The government ministers will continue their talks to examine the security situation and financial issues in the country, the source added without elaborating.
The head of the Money Exchange Syndicate, Mahmoud Mrad, told reporters that the central bank governor had promised to inject US dollars into the Lebanese market to prop up the country's currency.
Mr Mrad added that members of the syndicate were committed to selling the US dollar at the official rate of 3,940 pounds.
The pound was trading as high as 5,500 against the US dollar in the black markets in some areas of Lebanon.
The local currency has lost around 70 per cent of its value since mass protests erupted in the country in mid-October.
The economic crisis was also at the centre of a meeting on Friday between Lebanese President Michel Aoun and parliament Speaker Nabih Berri.
Lebanese prime minister Hassan Diab. Source: DALATI AND NOHRA
Emerging from the meeting, Mr Berri said efforts were being made to "stabilise the Lebanese pound and protect people's interests".
Protesters from various political parties across Lebanon, including members from the pro-government Shi'Ite Hezbollah and Amal movements, took to the streets overnight to protest the dire economic situation.
Many of them chanted: "We are starving".
Protesters vowed to continue their demonstrations until the prime minister steps down.
