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Exchange Rate Hits Staggering 7,000 LL On The Dollar This Morning
As Lebanon’s currency continues its free fall, a new record low has been achieved. The Lebanese Pound is reportedly selling at 7,000 to the dollar, losing more than 75% of its value.
Editorial Purpose: We are sharing this piece of content to keep you in the loop on the latest happenings in the country.
Angry protesters took it to the streets on Wednesday night calling for the government’s resignation as the country sinks deeper into economic distress.
Despite continuous governmental “efforts” to manage the currency crash (including injecting dollars into the market and setting a higher rate for specific transactions), it seems as though chaos still prevailing and the parallel currency market continuing to thrive.
When do you think this free fall will end?
#a> #Lebanon24
— Lebanon 24 (@Lebanon24) June 25, 2020
https://t.co/36BDdI5bPG via @Lebanon24
Editorial Purpose: We are sharing this piece of content to keep you in the loop on the latest happenings in the country.
Angry protesters took it to the streets on Wednesday night calling for the government’s resignation as the country sinks deeper into economic distress.
Live faceoff @SamerELKhoury11
— Reem El-Merhebi (@Lamloumz) June 25, 2020
# # # # # pic.twitter.com/7vomdp8xiv
Despite continuous governmental “efforts” to manage the currency crash (including injecting dollars into the market and setting a higher rate for specific transactions), it seems as though chaos still prevailing and the parallel currency market continuing to thrive.
When do you think this free fall will end?