| 30 May 2024, Thursday |

Lebanon’s economy declining, black-market dollar soaring up

Lebanese pound continues to decline in light of the living, financial and social collapse

Black -market dollar recorded this morning, Friday, 17,200 Lebanese pounds for purchase, and 17,150 pounds for sale.

On Tuesday, Lebanon raised fuel prices by more than 38%, in a move that comes within the framework of partially lifting fuel subsidies as the dollar reserves at the Banque du Liban are depleted, while the country plunges into economic collapse.

Dollar exchange rate at Banque du Liban remains at 1507.5 Lebanese pounds per dollar, and it is allocated to basic commodities only.

Lebanese banks set the price of 3850 pounds to the dollar, when withdrawing the dollar to small depositors.

On the other hand, the Syndicate of Money Changers in Lebanon confirmed the pricing of the dollar exchange rate against the Lebanese pound, with a moving margin between 3850 pounds for purchase, and 3900 pounds for sale, as a maximum.