The dollar “falls” against the pound … and the houses of the Lebanese have become shops for them!

Two events that occurred during the current week affected up and down the balance of the black market for dollar exchange. The postponement of parliamentary consultations and the recent circular from the Governor of the Central Bank of Lebanon on the establishment of a specific ceiling for banks to withdraw money in Lebanese pounds have imposed a kind of confusion on the nature of the next stage, in the hope of wait for a new horizon for the expected government.

This morning, the black dollar opened at 8000-8100 pounds, to return at noon and register a slight decline between 7850-7950 Lebanese pounds to one dollar.

Dollar holders live in a state of anticipation of prices on the black market, to be able to decide to buy or sell dollars. The dollar is currently undergoing a slight bumpy process, but suddenly reaches the turning point within hours.

On the other hand, the dollar price at exchange houses is recorded as £ 3,850 for purchase and £ 3,900 for sale.

It is worth noting that the legalization of banks for withdrawals in Lebanese pounds, according to some economic observers, is considered a step to avoid the conversion of the pound into hard currency, and is an indirect way to obtain official support, because this rationing it will inevitably push citizens to reduce consumption.

Observers point to the emergence of a new problem in the Lebanese market. After the problem of storing green currency in homes was one of the reasons for the high price of the dollar due to its scarcity, it became clear that many Lebanese are storing the pound in their homes due to their anxiety, and this is what noted the Bank of Lebanon circles: Quantities stored inside houses are estimated to be in the billions of pounds, especially as the market is rapidly absorbing the printed quantities, which are no longer being pumped up again.