SAWT BEIRUT INTERNATIONAL

| 27 October 2021, Wednesday |

Black market dollar registers remarkable hike

On Friday morning, the dollar surged again on the black market, hovering between 17,500 for purchase and 17,450 LBP per dollar for sale.

On Wednesday morning, the dollar was traded between 17,200 LBP for sale and 17,250 LBP for purchase.

Lebanon’s banks are suffering from a severe liquidity crisis, and in late 2019 they halted paying their customers’ deposits in foreign currency permanently. They are currently relying on the Central Bank’s circular to pay deposits at the exchange rate of 3,900  LBP per dollar, with withdrawal ceilings not exceeding $3,000 per month.

On the other hand, the Syndicate of Money Changers in Lebanon set the dollar rate between 3,850 Lebanese pounds for purchase, and 3,900 pounds for sale, as a maximum.

The exchange rate of the dollar in the Central Bank of Lebanon remained at 1507.5 pounds per dollar, and it is allocated to some basic commodities only.