On Wednesday morning, the black market dollar exchange rate registered between 21,40 Lebanese pounds per dollar for purchase and 21,450 LBP for sale.

The Lebanese pound has lost more than 90 percent of its value against the dollar, after it witnessed a slight improvement last month, following the announcement of the formation of a new government after 13 months of political vacuum.

Lebanon is experiencing a violent economic collapse that threatens its stability. The World Bank described the crisis as the deepest in modern history.

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

Lebanon is experiencing a violent economic collapse that threatens its stability. The World Bank described the crisis as the deepest in modern history.

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.