The black market dollar was stable this morning, as it ranged between 23150 Lebanese pounds for purchase and 23100 Lebanese pounds for sale.
It is noteworthy that an official Lebanese source told “Reuters” earlier that “Lebanon will apply an exchange rate between 15 and 20 thousand pounds to the dollar for operational expenses, in the draft budget of 2022, in which the deficit is expected to reach 20.8 percent.”
The Lebanese pound witnessed an improvement in its value against the US dollar, which led to a reduction in the price of bread and fuel on Friday. Banque du Liban had earlier allowed citizens to exchange the pound for dollars from banks according to the exchange rate of “Syrafa”
It is noteworthy that the financial crisis in Lebanon worsened two years ago, as the World Bank described it as “one of the worst recessions in modern history.”