The price of the dollar today in Lebanon is…slightly lower than the black market

The price of the dollar in Lebanon fell against the Lebanese pound during trade on Tuesday, May 28, 2024, while it was steady at the central bank, slightly on the parallel market.

The Lebanese pound has lost about 95 percent of its value since the Lebanese economy began to collapse in 2019, with banks preventing most depositors from withdrawing their savings and more than 80 percent of the population falling below the poverty line.

Today’s dollar price in Lebanon

The Lebanese pound has firmed against the dollar today in the central bank and on the parallel market, and government estimates of total losses in the financial system indicate more than $70 billion, most of which are central bank liens.

The dollar against the Lebanese pound for remittances was also unchanged from yesterday’s transactions at 42,000 pounds.

Lebanese Economy Minister Amin Salam said in an exclusive interview with “CNN Al-Ektisadiyya” early last April that the dollarization decision, which faced many objections on the Lebanese street, was a major reason for the curbs on the Lebanese street. Ensuring the stability of the black market and the exchange rate of the Lebanese pound.

Today’s dollar exchange rate on the bank floor in Lebanon

According to the bank’s official website, the price of the dollar on a bank floor is fixed at 85,500 liras for buying and selling.

The Lebanese pound has begun to see stabilization in exchange rates since last summer, in the form of a much-needed balance-of-payments surplus as the country has been experiencing a war in the south since October. Solutions to five years of political deadlock and crisis in the absence of a president and a caretaker government.

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Today’s dollar exchange rate on the black market, second to second

The dollar exchange rate fell to 89,300 liras on the black market in Lebanon today, while the selling price rose to 89,700 liras, traders said.

The reason for the initiation of dollar pricing in Lebanon is the economic crisis that has passed through the country since the outbreak of protests in 2019 and the withdrawal of the local lira from the dollar on the parallel market, then local banks, which led to a significant decline in the exchange rate of the lira against the dollar, thus increasing… the burden is on citizens, among them Majority still receive their salary in local currency and exchange. A rate that does not match the current value of the currency in the black market.

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