3. Lebanon uses a fixed exchange rate that is tied up to the American Dollar. At a spot rate of e= Ibp1515/$. In each case specify what happens to the reserve holding of dollars of BDL Banque du Liban. Please note that you do not get any credit for providing the right answer without supporting it. A. Lebanese who live abroad are investing in purchasing Lebanese t-bills, B. Interest on Lebanese risk free security pays a rate of 8% while interest on US risk free security pay interest of 3%. speculators believe that the Lebanese pound will devaluate to er=bp 2000/$ due political crisis. C. If Syrian pound to dollar is easyp518/S and Lebanese Pound to Syrian spot exbp2.9/syr. Assume that dollars are available in the Lebanese market