Lebanon..dollar sets new record

The Lebanese pound fell against the dollar today, on Friday, having crossed the threshold of 36,000 pounds.

According to black market price tracking websites and mobile phone apps, the price of the dollar ranged from 36,350 to 36,479 Lebanese pounds.

The increase comes after the Bank of Lebanon completely stopped providing dollars for fuel imports yesterday, Monday, leading to a 28,000 Lebanese pound rise in gasoline prices from yesterday to Tuesday morning.

And under the influence of the Lebanese economic crisis, which the World Bank has ranked among the worst in the world since 1850, the local currency (lira) has lost more than 95% of its value against the dollar and more than 80% of the Lebanese are below the poverty line, and the unemployment rate has risen up to about 30%.

Source: RT

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