The black market dollar exchange rate registered between 16,100 and 16,200 Lebanese pounds on Monday morning, after it closed last evening between 16,300 and 16,350 Lebanese pounds per dollar.

Lebanon is in the midst of one of the most terrible recessions in modern history, according to the World Bank. Three-quarters of the population is impoverished, and the country’s currency has lost 90% of its value in the last two years.

When withdrawing dollars from small depositors, Lebanese banks have set the dollar at a rate of 3,850 Lebanese pounds, which remains in effect till present.

The Syndicate of Money Changers in Lebanon, on the other hand, confirmed 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.