Wed, 2023-03-01 20:57 BEIRUT: Escalating political confusion sent the Lebanese pound plummeting to a new low on the black market, trading at 90,000 pounds to the dollar on Wednesday. The latest plunge in the local currency means the exchange rate is more than 60 times lower than the base rate of 1,500 LBP/USD that has been in place for the past three years. Amid warnings of looming economic chaos, the Finance Ministry set the price of the customs dollar at 45,000 Lebanese pounds so the state treasury could pay public sector salaries.Main category: Middle-East
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