| 28 May 2024, Tuesday |

Collapsing Lebanon currency hits new low

The black market dollar registered on Wednesday, between 20,870 and 20,920 Lebanese pounds, after it closed yesterday evening at a rate fluctuating between 20,800 and 20,900 Lebanese pounds.

Lebanese banks have previously set the rate at 3,850 Lebanese pounds per dollar for withdrawal transactions of small depositors, a Law that remains in effect till present.

On the other hand, the Syndicate of Money Changers in Lebanon set the black market rate between 3,850 Lebanese pounds for purchase, and 3,900 LBP for sale, as a maximum.

The dollar exchange rate in the Central Bank of Lebanon remained at 1,507.5 pounds per dollar, and it is allocated to some basic commodities only.

  • Sawt Beirut International