On Sunday morning, the dollar exchange rate on the black market hovered between 18,950 and 19,050 LBP, after closing at 19,025 and 19,100 LBP per dollar on Saturday evening.
Lebanese are facing the worst financial and economic meltdown in the modern history of Lebanon. The Central Bank’s ability to subsidize basic commodities like medicine, fuel and wheat has declined. This has lead to some outages in the stocks of fuel, and the closure of some gas stations.
Lebanese banks have set the dollar at a rate of 3,850 pounds when withdrawing the dollar to small depositors a while ago, and it is in effect until today.
On the other hand, the Syndicate of Money Changers in Lebanon set the dollar rate between 3,850 Lebanese pounds for purchase, and 3,900 pounds for sale, as a maximum.
The exchange rate of the dollar in the Central Bank of Lebanon remained at 1507.5 pounds per dollar, and it is allocated to some basic commodities only.