The black market exchange rate of the US dollar against the Lebanese lira witnessed a rapid and unexpected decline in the afternoon of Sunday, July 2, 2023.

The exchange rate of the dollar in the black market ranged between 90,400 and 90,800 Lebanese liras per one US dollar.

Earlier in the day, it had reached between 91,700 and 92,000 Lebanese liras per one US dollar.

It is worth noting that the International Monetary Fund (IMF) stated in its first comprehensive financial assessment since the financial collapse in Lebanon in 2019 that the financial crisis in the country has worsened due to the lack of policy measures and vested interests, which has hindered reforms.