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AFP
The exchange rate of the dollar against the Lebanese pound fell significantly in the parallel market today, Wednesday, to less than 15,000 pounds to the dollar.
After registering 15,200 pounds on sale in the afternoon, 15,250 pounds on purchase, the dollar exchange rate continued to decline, as it registered until the hour 14,930 pounds at sale and 14,870 books for purchase.
The dollar fell sharply last Friday, following the announcement of the formation of the government headed by Najib Mikati, and the dollar’s exchange rate on the parallel market hit 15,700 pounds that day.
The dollar set a record high last July, surpassing 23,000 pounds, after Saad Hariri apologized for forming government 9 months after his appointment.
Since October 17, 2019, the Lebanese pound has lost more than 90% of its value, due to the intensification of financial and economic crises accompanied by a political crisis.
Source: RT
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