The black market dollar continues to rise in absence of responsibility or monitoring, while “officials” continue to bicker over shares, powers, and crusts that will lead to Lebanon’s downfall.
The black market dollar recorded 15,300 Lebanese pounds for purchase and 15,250 Lebanese pounds for sale today, Tuesday. According to a European official, the only way for Lebanon to get out of its crippling economic crisis is to reach a deal with the International Monetary Fund.
On the one hand, as Josep Borrell, the European Union’s High Representative for Foreign Policy, remarked from Beirut on Saturday, that “only an immediate deal with the International Monetary Fund would save the country from financial collapse, and there is no time to waste.”
When withdrawing dollars from small depositors a while back, Lebanese banks fixed a price of 3850 pounds to the dollar, which is still in effect today.
The Syndicate of Money Changers in Lebanon, on the other hand, confirmed the pricing of the dollar exchange rate against the Lebanese pound, with a maximum floating margin of 3,850 pounds for purchase and 3,900 pounds for sale.
The dollar exchange rate at the Central Bank of Lebanon remained unchanged at 1507.5 pounds per dollar, and it is only used for basic commodities.