SAWT BEIRUT INTERNATIONAL

| 20 June 2021, Sunday | النسخة العربية

Black market dollar continues to rise

The exchange rate of the dollar on the black market this morning recorded 9400 pounds for sale and 9450 pounds for purchase against one dollar.

Lebanon is going through an unprecedented economic crisis, as the lira lost more than 70% of its purchasing power. The formation of a new government is stalled due to the intransigence of the political parties who insist on fighting and obstruction due to their own interests.

The new rise comes with the exacerbation of the liquidity crisis exacerbated by the Corona pandemic, coinciding with the months-long political crisis that has been preventing the formation of a new government headed by Saad Hariri ,amid the escalation of the rhetoric of division between him and President Michel Aoun in recent days.

Meanwhile, afflicted citizens are suffering as their purchasing power has eroded as a result of widespread unemployment and the loss of the lira more than 80% of its value during this crisis, while monopolies play a major role in the cost of living.