The Lebanese pound has hit a new low against the US dollar on the black market, a drop that coincides with bank closures this week due to heists by angry depositors. The pound sold at close to 38,500 to the greenback on Monday, according to websites monitoring the exchange rate. It had briefly plunged to 38,600 against the dollar on Friday before rising slightly. The drop in recent days marks a record low for the beleaguered national currency. For decades, the Lebanese pound was pegged at 1,500 to the dollar, meaning that it has lost around 95 percent of its value since 2019. A financial crash widely blamed on government corruption and mismanagement has caused the w
Hence then, the article about lebanese lira hits record low amid bank closures was published today ( ) and is available onThe New Arab ( Kuwait ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Lebanese lira hits record low amid bank closures )