Lebanese pound sinks to historic low of 100,000 to dollar ...Kuwait

News by : (The New Arab) -
The Lebanese pound sank to a historic low of 100,000 against the dollar on the parallel market Tuesday, the latest grim milestone in the country's economic meltdown that has plunged most of the population into poverty. The Lebanese pound, officially pegged at 15,000 to the dollar, was trading at 100,000 against the greenback, dealers said - a dizzying plunge from 1,507 before the economic crisis hit in 2019. The currency's market value was at around 60,000 to the dollar in late January. Activists have taken to social media to express their concern and anger following the historic low, and "grim milestone". #Lebanon’s economic crisis has reached another grim mileston

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