Lebanon pound plummets to all-time low ...Kuwait

The New Arab - News
Lebanon pound plummets to all-time low
source : The New Arab ( Kuwait ) () 16
Before the latest hit, the Lebanese pound had briefly stabilised at 8,000-8,500 to the greenback in recent weeks.The Lebanese pound hit an all-time low against the dollar on Tuesday amid a deepening economic crisis that has thrown more than half of the population into poverty. The Lebanese pound had been pegged to the dollar at 1,500 since 1997 but the country's worst economic crisis since the 1975-1990 civil war has seen its value plummet. On Tuesday, it was trading at nearly 10,000 pounds to the dollar on the black market, money exchangers told AFP. "It's crazy what's happening," one money exchanger said on condition of anonymity. Before the latest hit, the pound had briefly stabilise

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