The Lebanese pound is deteriorating again against the dollar

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Friday October 8, 2021 11:10 AM

The Lebanese pound is deteriorating again against the dollar

Reuters

Today, Friday, the exchange rate of the dollar in Lebanon recorded a new high, to return to and exceed the threshold of 19,000 Lebanese pounds on the black market.

The dollar is trading at a margin between 19000 pounds for purchase and 19050 pounds for sale in the morning exchanges in the parallel market.

The Lebanese pound is deteriorating again against the dollar

The dollar recorded a significant decline after the announcement of the formation of the government headed by Najib Mikati, and that day the exchange rate of the dollar in the parallel market reached 15,700 pounds.

The dollar set a record last July, exceeding 23,000 pounds, after Saad Hariri apologized for forming the government 9 months after his assignment.

Since October 17, 2019, the Lebanese pound has lost more than 90% of its value, due to the intensification of financial and economic crises accompanied by a political crisis.

Source: RT

Source : World news: The Lebanese pound is deteriorating again against the dollar







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