SAWT BEIRUT INTERNATIONAL

| 4 December 2021, Saturday |

Black market dollar registers slight decrease on Tuesday afternoon

The black market dollar registered 20,700 Lebanese pounds for sale and 20,750 Lebanese pounds for purchase on Tuesday evening, after it recorded 20,800 LBP for sale and 20,900 LBP for purchase earlier in the morning.

Lebanese banks set the black market rate at 3,850 Lebanese pounds per dollar for withdrawal transactions of small depositors, a Law that remains in effect till present.

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

The dollar exchange rate in the Central Bank of Lebanon remained at 1,507.5 pounds per dollar, and it is allocated to some basic commodities only.

Since late 2019, Lebanon has been struggling with a catastrophic financial crisis, in which the local currency has lost about 90% of its value, the poverty rate has risen, and the banking system has been paralysed.