SAWT BEIRUT INTERNATIONAL

| 5 October 2022, Wednesday |

Remarkable increase in dollar exchange rate on black-market

On Wednesday morning, the dollar exchange rate on the black market registered a noticeable increase, as it recorded 20,700 Lebanese pounds for sale and 20,750 LBP for purchase.

It was traded on Tuesday at 19,700 LBP for sale, and 19,750 LBP for purchase.

Three weeks ago, the dollar exchange rate surpassed 33,000 LBP on the black-market dollar.

The value of the Lebanese pound increased against the US dollar last week, resulting in lower prices for bread and gasoline.

Lebanon’s Central Bank had set a new rate of 8,000 Lebanese pounds to the US dollar for withdrawals from bank deposits denominated in dollars but which can now only be accessed in the local currency.

It is worth noting that Lebanon’s financial situation exacerbated two years ago, with the World Bank describing it as “one of the worst recessions in modern history.”

    Source:
  • Sawt Beirut International