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Starting Today, Lebanon’s Supermarkets To Set Pricing In Dollars
In a press release shared by the Minister of Economy Amin Salam, it was revealed that supermarkets are now allowed to price goods and products in USD – so long as they display a daily exchange rate at both the entrance of the supermarket, as well as on the cash.
The fluctuating Lira-USD has left supermarkets unable to set a fixed price for goods, and since Lebanon relies primarily on imports, the instability of the currency has caused major losses to the sector.
Salam said: “We are living through exceptional circumstances,” going on to add that this was done due to a complete “absence of any control on the USD rate”.
#عاجل– وزير الاقتصاد: إصدار إعلان بعد ظهر اليوم للتسعير بالدولار في السوبرماركتhttps://t.co/TKU2w5XaY4 pic.twitter.com/GGDt3unRjh
— Annahar (@Annahar) February 16, 2023
The fluctuating Lira-USD has left supermarkets unable to set a fixed price for goods, and since Lebanon relies primarily on imports, the instability of the currency has caused major losses to the sector.
Salam said: “We are living through exceptional circumstances,” going on to add that this was done due to a complete “absence of any control on the USD rate”.
