| 20 May 2024, Monday |

Will the dollar exchange rate remain stable? Lebanese awaiting a surprise

Everything in Lebanon is sold in US dollars. The store owner seeks to memorize the prices of cell phone supplies to avoid arguments with customers.

The numbers have remained stable since the Central Bank’s circular related to providing dollars to depositors, which has contributed to a stability in the dollar exchange rate for about two months. But the period of circular is coming to an end.

Saad Eddin Baasiri, one of the top twenty money exchangers in Lebanon, confirmed that his experience indicates that the fluctuation of the dollar price is affected by the political and economic crises. However, the dollar’s rebounds are still chasing him in his new profession of buying and selling gold.

Many economists attribute this semi-stability to a political decision, which has stalled any rise in the dollar exchange rate, but for an indefinite period.

The Beiruti street says hre that the dollar stability is due to electoral necessities that the parties in power have agreed with decision-makers to control the prices of the US currency before the imminent entitlement.

  • Sawt Beirut International