The dollar is witnessing a continuous increase in Lebanon since Prime Minister-designate Mustafa Adeeb announced his apology for not continuing the task of forming the government.
According to local media, the price of the dollar on the black market was recorded at 8700 pounds for purchase and 8800 pounds for sale, and the price is according to regions and demand.
Banks have faced a crisis since last year after political turmoil, as expatriate remittances slowed and foreign exchange liquidity diminished, causing the government to struggle to finance a mountain of debt.
The Lebanese banking system has been paralyzed since last year due to a liquidity crisis that has prevented the country from paying its huge debts.
The Lebanese pound collapsed as banks imposed harsh restrictions on withdrawals from bank accounts denominated in dollars, blocked transfers, and slashed card spending limits abroad to a level that in some cases reached $ 15 a month.
The Lebanese parliament passed a law allowing students and their parents to transfer an amount of up to ten thousand dollars at a price of 1515 pounds to the dollar. This applies to students who started studying abroad before 2020.
At the start of the economic crisis, banks pledged to transfer dollars for urgent needs such as medical and tuition fees. However, clients said banks had rejected most of the requests.
Lebanon’s crisis worsened after the resignation of the government following the huge explosion that rocked the Beirut port on August 4, which destroyed parts of the capital. Efforts to form a new non-partisan government of ministers and specialists have faltered due to sectarian politics.
exchange money
The Money Exchange Syndicate announced pricing the exchange rate of the US dollar against the Lebanese pound with a moving margin between buying at 3850 pounds and selling at 3900 as a maximum.
Banks
The Central Bank of Lebanon fixed the exchange rate of the dollar at 1,507.5 pounds. This price applies only to imports of fuel, medicine and wheat.
Banks set the price of 3,850 pounds to the dollar when withdrawing dollars to small depositors.
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