The decline of the dollar in the black market … An...

The economist Dan Azzi emphasized that “the black market or the informal market for the Lebanese pound is based on thousands of commercial operations that take place between a number of 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 on electronic applications, but in my opinion in the last two days the movement was unnatural, and there was an uncommon injection of dollars into the Lebanese markets.”

He continued, “To check 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 money changers, as they are the ones who pumped 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 pointed out that “there was an attempt to reduce the exchange rate in an artificial and not natural way, and we do not know the reasons. It is not reasonable for the price to remain on this axis for a long time unless this pumping continues over a long period.”

Azzi believed that “this mourning will not last for long if its goals are political or economic.”

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