| 4 July 2022, Monday |

Lebanese lira registers new record low

The black market dollar continues to soar, as it ranged this Friday morning between 37,500 Lebanese pounds for purchase and 37,400 pounds for sale, which constitutes a precedent that did not occur during the entire period of the crisis.

The economic expert, Louis Hobeika, indicated that “there is no solution to the economic crisis in the country without changing the internal political situation, otherwise the dollar exchange rate will remain flying without a ceiling,” stressing that “no other country can help us, as change starts from within because all Countries have their own problems and crises.”

And he considered in a radio interview, “The large offer of the dollar during the election period was the result of festivals and celebrations, as well as the money paid during this period.”

In response to a question about whether the solution in Lebanon lies in the “dollarization” of some goods, Hobeika saw that it is not possible to dollarize spending without dollarizing income, and this requires time to implement, otherwise it will lead to the closure of many companies in the country.

  • Sawt Beirut International