[ad_1]
The price of the dollar rose against the Lebanese pound, on Friday, during the first operations in the informal “black” market.
In the midst of the worsening crisis of the shortage of currency money supply in particular, the price of the dollar in this market ranged between 8,300 pounds for the purchase and 8,400 for the sale.
The price of the dollar is once again approaching the threshold of 9 thousand pounds per dollar against the Lebanese pound, given the failure of efforts to form the government, and the accompanying talk about the possibility of lifting subsidies to some basic materials and commodities.
With the continued decline in the abundance of the dollar in local markets, a shortage of commodities, including medicines, appeared amid fears of a decline in the abundance of many commodities, paving the way for a rise in rates of inflation.
On the other hand, the pound rate remained constant at the central bank and in banks and exchange houses at 1507 pounds per dollar.
Collapse
Lebanon is facing the largest banking collapse in its modern history, paralleled by the collapse of the national currency, following the fall of the Lebanese pound against the dollar by more than 80% during 2020.
This prompted Lebanese banks to impose strict restrictions on the accounts beginning in the first quarter of 2020, after it was discovered that there was a large loss gap in the accounts of the Banque du Liban, whose estimates exceed $ 63 billion. .
Options for Lebanese have diminished in the face of the spread of the coronavirus and the deterioration of social, monetary, economic and living conditions. Or the country is closed to preserve public health, which inevitably leads to high economic losses, unemployment and poverty.
The second option is to slow down the general decision to mobilize, especially with the arrival of the Christmas season, which may slightly reactivate the market and tourist institutions, and tighten awareness and prevention measures, which previously failed to stop the spread of the epidemic , so it was a return to the “first square”.
It seems that the two options are only two, while the Lebanese government cannot offer alternatives, even to the most vulnerable and impoverished people affected by the closure.
Currency exchange
The Union of Money Changers in Lebanon confirmed the exchange rate of the dollar against the Lebanese pound with a variable margin between the price of 3,850 pounds of purchase and 3,900 pounds of sale, maximum.
Banks
The Central Bank of Lebanon has also set the dollar exchange rate at 1507.5 pounds. This price applies only to imports of fuel, medicines and wheat.
Banks set the price at 3,850 pounds per dollar, when withdrawing dollars from small depositors.
