Lebanese Pound Drops As Tensions Stir Among Political Elite

Mohamad Azakir

The value of the Lebanese pound is dropping further than it has been in months as Lebanese politicians continue to put their own interests ahead of doing what’s best for the country and the people.

On Saturday, the lira was trading at around 8,870 LBP on the black market, with black market traders selling the dollar for as high as 8,900 LBP and buying it for as low as 8,700 LBP.

Earlier this week, the lira was trading at around 8,900 LBP. It was the lowest rate it has been in over 3 months. It fluctuated throughout the week only to drop again.

Complications in ’s political arena have deepened after President accused Prime Minister-designate of lying in a leaked audio. Furthermore, Hariri is reportedly being pressured to resign.

Leaked Audio Of President Aoun Saying Hariri Is Lying About Gov’t Formation
Lebanese Presidency

As tensions stir among the political elite, those whose job is to serve the public and think in the interest of the people are only prolonging any progress to reform and rid it of its crises.