| 2 December 2023, Saturday |

Black market dollar registers new hike

The black market dollar rose further this Thursday morning, with a price range of 25,300 Lebanese pounds for purchase and 25,350 Lebanese pounds for sale.

Lebanon is in its third year of financial collapse, the result of decades of corruption and bad policies that have caused the currency to lose more than 90% of its value, and banks have barred most savers from accessing hard currency accounts.

A draft government bailout plan released earlier this year estimated a $70 billion gap in the financial sector.

The government is reviewing the plan as part of its discussions with the International Monetary Fund, from which it hopes to obtain an aid program.

  • Sawt Beirut International