| 21 April 2024, Sunday |

In the wake of Qardahi’s resignation preparations, dollar plunging

The black-market dollar recorded a noticeable decline, today, Friday, in the wake of preparations for the resignation of Information Minister Georges Qordahi.
As the dollar ranged between 21950 Lebanese pounds for purchase and 22000 pounds for sale.
The Lebanese pound has lost more than 93 percent of its value since summer 2019, when it began breaking away from the exchange rate of 1,500 LBP to the dollar, which has been pegged since 1997.
Economists warned of the impact of Lebanon’s problem with the Gulf nations on the Lebanese economic reality, pointing out that the production sectors that were an input for the dollar would be harmed, in addition to the closure of Saudi institutions in Lebanon.