Rolexes and cars; Lebanese spend big to prise savings from the bank

A woman is reflected in a mirror as she tries on a necklace at a jewellery shop in Beirut, Lebanon January 24, 2020. REUTERS/Mohamed Azakir

BEIRUT (Reuters) - When she heard Lebanese banks would limit cash withdrawals, Rita, a doctor, rushed out to buy a $10,000 (£7,608.03) Rolex watch on her credit card, anxious to protect some of her savings. "It's better than keeping my money in the bank," she said.

Every week, account holders line up for their quota of cash - for some less than $200 - from their banks, which have also blocked foreign money transfers as Lebanon sinks deep into economic crisis.