| 23 April 2024, Tuesday |

Lebanese pound sinks to new low, trading at 24,750 LBP

The black market dollar exchange rate registered on Monday morning between 24,750 and 24,700 Lebanese pounds per dollar, after closing between 25,00 and 25,100 Lebanese pounds yesterday evening, Sunday.

On Sunday, the US dollar exchange has reached 24,700 LBP for sale and 24,850 LBP for purchase.

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.

  • Sawt Beirut International