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Economist Dan Azzi emphasized that “the black market or informal market for the Lebanese pound is based on thousands of commercial operations carried out between various independent individuals, and that the rate of these operations determines the exchange rate.”
Azzi added in a video he posted on the YouTube platform: “Sometimes this rate is manipulated through rumors about electronic applications, but in my opinion in the last two days the movement was abnormal, there was an unusual injection of dollars in Lebanese markets “.
He continued: “To verify the exchange rate, we must visit the money changers and ask them to know the exchange rate they have.”
The expert pointed out that “this pumping, which occurred during these two days, occurred through 4 exchangers, since they are the ones who injected the dollar into the market.”
He added: “There is a person or institution that has also pumped a real dollar, and the reasons behind this are still unknown.”
He noted that “there was an attempt to reduce the exchange rate artificially and unnaturally, and we do not know the reasons. It is not reasonable for the price to stay on this axis for long unless this pumping continues for a long period.” .
Azzi believed that “this duel will not last long if its objectives are political or economic.”
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