SAWT BEIRUT INTERNATIONAL

| 30 May 2024, Thursday |

Black-market dollar, slight increase.

The black-market dollar rate exchange, ranges between 20720 and 20770 pounds per dollar at the beginning of trading today.
The Lebanese pound lost more of its value against the dollar after a limited improvement last month, following the announcement of the formation of a new government after 13 months of political vacuum in the country.
The Lebanese pound has begun to gradually decline since 2019 against the dollar, coinciding with a severe liquidity crisis and banks stopping providing depositors with their money in dollars, while the official exchange rate is still fixed at 1,507 pounds.
The Lebanese pound has lost about 90% of its value over the past two years, pushing three quarters of the population into poverty.