| 24 May 2024, Friday |

Macron’s call “modifies” black market dollar

The black-marke dollar exchange rate, recorded a noticeable decrease this evening, as it ranged between 22,400 and 22450 pounds per US dollar, after recording this Saturday afternoon between 23,675 – 23725 Lebanese pounds per US dollar.
The sudden drop in the dollar exchange rate on the black market came after the call that took place this evening between the French President and the Saudi Crown Prince and Prime Minister Najib Mikati.
During the call, Mikati stressed the need to revive the historical brotherly relations with the Kingdom of Saudi Arabia.
In this context, the economic expert, Muhammad Jabai, revealed yesterday that “$17 billion have been smuggled since October 17, 2019 and $17 billion since 2017, i.e. $35 billion, and this is what has exacerbated the problem.”
In a television interview, he stressed that “the exchange rate is automatically affected by political conditions, but it does not change in a quick way except according to economic mechanisms.”