| 27 May 2024, Monday |

Black market dollar continues to rise in light of economic deterioration

The black market dollar continues to rise on Sunday, recording 12,900 pounds for sale and 12,950 pounds for purchase, after it was registered  between 12,725 and 12,775 pounds per dollar on Saturday evening.

Lebanese banks have set the price of 3,850 pounds per one dollar to small depositors upon withdrawal a while ago, a Law that remains in force till present.

The Syndicate of Money Changers in Lebanon confirmed the pricing of the dollar exchange rate against the Lebanese pound with a margin oscillating between 3,850 pounds for purchase and 3,900 pounds for sale.

Dollar exchange rate at the Central Bank of Lebanon remains at 1507.5 pounds per dollar, reserved for basic commodities only.

Lebanon has been enduring a severe economic and financial crisis because of waste and corruption in government institutions in recent years, resulting in an increase in poverty to more than 50%.

  • Sawt Beirut International