Sudden exchange rate turmoil angers Lebanese ahead of parliamentary elections ...Saudi Arabia

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Sudden exchange rate turmoil angers Lebanese ahead of parliamentary elections
Author: Fri, 2022-04-22 22:48 BEIRUT: A sudden upheaval in Lebanon's exchange rate has angered people ahead of parliamentary elections. Economist Louis Hobeika said the turmoil should motivate people to “vote for change and not re-elect those in power.” He told Arab News that the ruling parties had all the time they needed to issue laws but did nothing. The Lebanese pound hit a sudden low, trading at LBP28,000 to the dollar on Friday, with the country on official holidays until Tuesday for Orthodox Easter. The exchange rate turmoil caused a clamor in the markets, as people said on social media that shop owners had already started pricing goods based on a rate of LBP30,000 to the dol

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