The Lebanese pound fell to a new all-time low on the black market today, surpassing 35 35,000 for a dollar and following a sharp decline following the May 15 parliamentary elections.
According to the most used websites and applications to monitor prices on the black market, the exchange rate of the Lebanese pound was above 35,000 against the dollar this morning.
With the exchange rate officially set at στις 1,500 since 1997 at one dollar, the Lebanese pound has lost 95% of its value in two years of economic crisis.
At the same time, prices for fuel and most basic necessities continue to rise amid the war in Ukraine. Four out of five Lebanese live below the poverty line, as defined by the UN, an impoverishment accelerated mainly by triple-digit inflation.
SOURCE: AMPE
Source: Capital
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