The exchange rate of the black market dollar, registered this Wednesday morning, 20,550 pounds for purchase and 20,600 pounds for sale.
Banque du Liban established a new exchange rate for withdrawing Lebanese pounds from dollar accounts of 8,000 pounds per dollar.
The World Bank described Lebanon’s crisis as one of the worst recessions in world history. Most of the depositors’ funds in US dollars have been frozen since October 2019, and during this period the national currency lost more than 90% of its value.