Lebanon currency hits new low ...Kuwait

The New Arab - News

Lebanon's currency hit a new low against the dollar on the black market on Monday, continuing its freefall in a country gripped by political deadlock, an economic crisis and increasing shortages. The pound, officially pegged at 1,507 to the US dollar since 1997, was selling for 15,400 to 15,500 to the greenback on the black market, several money changers said. After hovering around 15,000 to the dollar in mid-March, the unofficial exchange rate dropped to between 12,000 and 13,000 later that month before soaring back up in recent days. The latest plunge means the pound has lost more than 90 percent of its value on the informal market since October 2019, in what the Wo

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Last updated : 14 June 2021 clock 01:45 PM

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