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BEIRUT: A sudden fall in the value of Lebanese pound has sparked confusion in the markets, widespread anger on the street and warnings that people “can no longer afford to buy anything.” The exchange rate in the parallel market reached 77,000 pounds to the dollar on Wednesday, less than 24 hours after it fell to 68,000 per dollar, creating a huge discrepancy between purchase ....
BEIRUT: Lebanese protesters blocked roads and burned tires on Wednesday near the central bank in Beirut as the weakened local currency plummeted to a new low against the dollar. The Lebanese pound, which had already lost more than 95 percent of its value since 2019, plunged to nearly 56,000 to the US dollar on the parallel market. As a result, the financial and commercial ....
Lebanon's central bank has lifted all remaining fuel subsidies, in a move that promises a hike in prices and increased pressure on the local currency, Elnashra news website reported.Over a year ago, the central bank announced a gradual . ....