A rapid decline in the dollar exchange rate … It reached...

A rapid decline in the dollar exchange rate … It reached...
A rapid decline in the dollar exchange rate … It reached...
A series of rapid declines in the black market after PM Saad Hariri was appointed to form the government, and the dollar recorded, on Friday morning, an exchange rate between 7000-7100 Lebanese pounds per US dollar, which is the closing price for Thursday evening.

In a remarkable development, the price of the dollar on the black market fell, for the first time in a long time, to below seven thousand pounds.

This afternoon, the price ranged between 6,800 for sale and 6,900 for purchase.

In addition, the Cashiers Syndicate announced the pricing of the exchange rate of the US dollar against the Lebanese pound for Friday 10/23/2020 exclusively with a moving margin between:

Purchase at a minimum price of 3,850

Selling at a price of 3900 a maximum.

Lebanon is witnessing a major economic collapse at various levels, in conjunction with the increase in the price of foodstuffs and the disappearance of medicine from the markets, which threatens a health and food crisis that Lebanon is approaching little by little, without any significant reforms from the Lebanese authority, and it is expected that the exchange rate of the dollar will rise on the black market in days. In the event that the birth of the government becomes difficult, which is expected in light of the “Hezbollah” policy of delaying the issue of forming the government, in order to gain time pending the clarification of the results of the American elections and receiving Iranian approval to form the “state” government.

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