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The Lebanese pound has recorded a record level of collapse against the dollar


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Today, Friday, the Lebanese pound hit a new all-time low against the US dollar as the price of one dollar on the black market approached 49,000 Lebanese pounds.

According to filings tracking the dollar on the (parallel) black market, the black market dollar recorded 48,629 Lebanese pounds on sale and 48,486 pounds on purchase.

And due to the impact of the Lebanese economic crisis, which the World Bank has classified as one of the worst in the world since 1850, the local currency (lira) has lost more than 95% of its value against the dollar, and more than 80% – the Lebanese fell below the poverty line. while the unemployment rate rose to about 30% and inflation rose by 100%.

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