| 29 May 2022, Sunday |

A day prior to the elections… Here’s the black market dollar rate

The exchange rate of the US dollar against the Lebanese pound on the black market continues at its high rate, exceeding 27,000 pounds, a day before the elections.

Today, Saturday, the price of the dollar in the money changer’s market reached 27,250 pounds for selling and 27,200 pounds for purchase.

Earlier, Economy Minister Amin Salam announced that the World Bank had approved a $150 million loan to finance the country’s imports of wheat and maintain the stability of bread prices for a period of nine months.

Salam added that the project, which is called the emergency response to wheat supplies to Lebanon, still needs approval from the Council of Ministers and Parliament.

A World Bank spokesperson said the loan aims to “finance immediate wheat imports to avoid any short-term disruptions in supply and help secure affordable bread for the poor and needy families, including… the refugees in Lebanon.”

Lebanon is highly dependent on food imports, which are paid for in dollars, which are now hard to come by since the economic collapse of 2019.

  • Sawt Beirut International