The exchange rate of the dollar on the black market recorded this Wednesday morning, between 9,900 and 9,940 pounds per dollar.

The exchange rate of the dollar ranged yesterday morning between 9950-10000 pounds, before closing at 9925 pounds for sale and 9975 pounds for purchase, which prompted the Lebanese to take to the streets and block roads in protest against the high price of the dollar and what is associated with it from the additional response to living conditions

Economist Walid Abu Suleiman confirmed yesterday that “banks were buying dollars from the market to secure dollars for correspondent banks, at a time when the Central Bank is struggling to secure dollars and a scarcity of dollars, in parallel with the market opening and the need for traders to buy dollars, and the most important factor today is the rush to buy dollars It is a loss of confidence ”.

During a television interview, Abu Suleiman stressed that “if the dollar is rising at a rate of 100 or 200 pounds per day, it will continue to rise like a snowball and there will be no ceiling for it,” noting that “if we want to curb this rise, the main thing is to form a government.” And then negotiate with the outside

He also pointed out that “the time factor is very important, and as time passes, the Lebanese citizen and depositor incur losses when he withdraws his money on the price of 3,900 pounds and the real price of 10,000.” The citizen also incurs losses in his purchasing power, and this is a systematic process of converting losses from losses distributed in fair ways, to charging them unfortunately to the depositor.

The new rise comes with the exacerbation of the liquidity crisis exacerbated by the Corona pandemic, coinciding with the months-long political crisis that has been preventing the formation of a new government with the escalation of the rhetoric of division between Saad Hariri and President Michel Aoun in recent days.

Meanwhile, afflicted citizens are suffering as their purchasing power has eroded as a result of widespread unemployment and the loss of the lira more than 80% of its value during this crisis, while monopolies play a major role in the high cost of living.