The black dollar exchange rate continues at its high rate, as it registered today, Thursday, 40,400 pounds for selling and 40,300 pounds for purchase.
Since the summer of 2019, the Lebanese pound has lost nearly 95% of its value against the dollar. This coincides with a severe liquidity crisis, and banks have stopped providing depositors with their money in dollars.
The prolonged economic crisis is considered the worst in Lebanon’s history. It is accompanied by political paralysis that prevents taking reform steps that limit the deterioration and improve the quality of life of the population, more than 80% of whom live below the poverty line. The authorities have not yet succeeded in implementing reforms required by the international community to provide support in order to stop the bleeding.