The black market dollar exchange rate remained stable on Tuesday morning, registering between 24,750 and 24,700 Lebanese pounds per dollar.

The Lebanese pound has lost more than 93 percent of its value since summer 2019, when it began breaking away from the exchange rate of 1,500 LBP to the dollar, which has been pegged since 1997.

Economists warned of the impact of Lebanon’s problem with the Gulf nations on the Lebanese economic reality, pointing out that the production sectors that were an input for the dollar would be harmed, in addition to the closure of Saudi institutions in Lebanon.