Tues. AM KTFA News Articles 1-11-22



Samson » January 11th, 2022

A “record” collapse of the Lebanese pound against the dollar

01/11/2022 13:56:34

The Lebanese pound fell today, Tuesday, to its lowest level ever, as the dollar exceeded 33,000 pounds for the first time since the beginning of the economic crisis in 2019.

According to websites and mobile phone applications to track the black market price, the dollar recorded today, Tuesday, 33,100 pounds for sale, and 33,000 pounds for purchase.

It is noteworthy that the official exchange rate of the Lebanese pound has been fixed since 1997 at 1,507 pounds to the dollar, but the market value of the national currency fell by more than 95% within two years of the economic crisis.

The minimum wage is now less than 23 dollars, while the prices of fuel and many basic commodities for which subsidies have been lifted, continue to rise.  LINK

Source: Dinar Recaps


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