| 22 May 2024, Wednesday |

On the verge of Hariri’s apology, black-market dollar exceeds 18000 L.L.

After recent developments and talks about the Prime Minister-designate Saad Hariri’s decision to apologize regarding  forming a government, led the dollar exchange rate to rise in the black-market this afternoon, as it exceeded the 18000 , it recorded 18,050 Lebanese pounds for purchase, and 18000 pounds for sale.

The black-market market dollar ranged this morning, between 17580-17630 Lebanese pounds per US dollar.

World Bank described the Lebanese severe financial crises as one of the deepest recessions in modern history. The Lebanese government raised fuel prices, in a move that comes within the framework of partially lifting fuel subsidies with the depletion of the dollar reserves at the Banque du Liban, while the country is plunged into a cycle of prolonged economic collapse.

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

On the other hand, the Syndicate of Money exchange established the dollar exchange rate against the Lebanese pound, with a moving margin between 3850 L.L. for purchase, and 3900 L.L. for sale, as a maximum.

Dollar exchange rate at the Banque du Liban remained at 1507.5 pounds per dollar, and it is allocated to some basic commodities only.O