| 6 October 2022, Thursday |

Nasrallah’s speech ignites the dollar exchange rate on black market

Following Hezbollah’s Secretary-General Hassan Nasrallah speech yesterday, the black market dollar exchange rate surged on Tuesday reaching 20,700 LBP per dollar for sale, and 20,900 LBP for purchase.

On Monday morning, the dollar exchange rate was traded between 20,450 and 20,550 Lebanese pounds per dollar.

Lebanese banks set the black market rate at 3,850 Lebanese pounds per dollar for withdrawal transactions of small depositors, a Law that remains in effect till present.

Lebanon is experiencing a violent economic collapse that threatens its stability. The World Bank described the crisis as the deepest in modern history.

On the other hand, the Syndicate of Money Changers in Lebanon set the black market rate between 3,850 Lebanese pounds for purchase, and 3,900 LBP for sale, as a maximum.

The dollar exchange rate in the Central Bank of Lebanon remained at 1,507.5 pounds per dollar, and it is allocated to some basic commodities only.

  • Sawt Beirut International