SAWT BEIRUT INTERNATIONAL

| 26 November 2022, Saturday |

Black dollar declines this morning.

The black dollar keeps on its upwards and downwards pattern, as it declined on Monday morning, recording 27,750 Lebanese pounds for purchase and 27,650 pounds for sale.
Last March, Lebanon announced that it was unable to pay its outstanding debts on time, and suspended the payment of $1.2 billion due on the ninth of March, putting the debt-ridden country on the path of defaulting on sovereign debt, at a time when it is facing a major financial crisis.

The Lebanese local currency has lost more than 95 percent of its value since the economic downturn began in 2019, and banks are no longer allowing foreign currency depositors to access their savings.

    Source:
  • Sawt Beirut International