And local media said that the price of the dollar fell to 8,300 pounds for purchase and 8,400 pounds for sale, compared to 8,630 pounds for purchase and 8,680 pounds for sale, yesterday.
On Saturday, the dollar scored between 8750 and 8,850 pounds per dollar.
Lebanon, grappling with a heavy debt burden, is facing its most severe economic crises since the 1975-1990 civil war. With the rise in prices, many Lebanese have fallen into poverty and become more dependent on subsidized food, medicine and fuel.
Lebanon has about $ 1.8 billion in foreign exchange reserves that could be made available to support basic food and other imports, but it may preserve their survival for about another six months by canceling subsidies on some commodities.
In light of the depletion of dollar resources, the Central Bank provided foreign cash for imports of fuel, wheat and medicine at an official rate pegged at 1,507.5 Lebanese pounds to the dollar, which is much less than the current price.
A list of around 300 other food and basic commodities is subsidized at 3,900.
Parliamentary consultations are scheduled to begin on October 15th to choose a new prime minister in an effort to push the divided Lebanese political elites to move in the direction of forming the country’s next government.
Exchange rates
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.
The price of the dollar in 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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