The Lebanese pound continued to tumble against the U.S. dollar on the black market Sunday, amid a months-long financial meltdown and a failure to form a new government.
The pound is currently trading at 12,830/12,880 to the dollar. The black market dollar continued to rise this week despite the launch of the platform “Sayrafa”.
Lebanese banks set the price of 3,850 pounds to the dollar, when withdrawing the dollar to small depositors a while ago, and it is still currently in use.
The Syndicate of Money Changers in Lebanon confirmed the pricing of the dollar exchange rate against the Lebanese pound with a moving margin between the price of 3,850 pounds for purchase and 3,900 pounds for sale, as maximum.
The exchange rate of the dollar at the Central Bank of Lebanon remained at 1507.5 pounds per one dollar, and it is allocated for basic commodities only.