| 22 May 2024, Wednesday |

Black-market dollar soaring up this evening

The exchange rate of the black-market dollar recorded this Saturday evening, between 17,750 and 17,800 Lebanese pounds per dollar, after it recorded between 17,400 and 17450 Lebanese pounds per dollar in the morning

This rise coincides with the decision to rationalize fuel subsidies, which reflected on basic foodstuff prices , in light of the government’s failure in finding any practical solutions to the ongoing economic collapse.

On Wednesday, the Lebanese parliament approved cash payments to families under poverty line, at a cost of 556 million dollars annually, which is a prelude to reducing the subsidies of basic commodity program that costs the state six billion dollars.