SAWT BEIRUT INTERNATIONAL

| 3 August 2021, Tuesday |

Black market dollar keeps skyrocketing, registers 17,650 LBP on Wednesday morning

The black market dollar continues to increase in light of Lebanon’s worst economic circumstances in its history, with the black market dollar exchange rate fluctuating between 17,600 and 17,650 Lebanese pounds per dollar on Wednesday morning.

The Central Bank of Lebanon is attempting to find answers to the food scarcity, announcing on Monday that it will pay up to $400 million in order to fund the import of critical medicines and grain (flour).

When withdrawing dollars from small depositors a while back, Lebanese banks fixed a price of 3,850 pounds to the dollar, which is still in force till present.

The Syndicate of Money Changers in Lebanon, on the other hand, has set the price of the dollar exchange rate against the Lebanese pound, with a maximum moving margin of 3,850 pounds for purchase and 3,900 pounds for sale.

The dollar’s exchange rate at the Central Bank of Lebanon remained unchanged at 1,507.5 pounds per dollar, and it is only used to purchase basic commodities.