On Friday, the Lira value rose slightly on the black market trading around 9,325 LBP with exchange dealers selling the dollar for 9,350 LBP and buying it for 9,300 LBP.
While this is a slight rise from yesterday’s exchange rate, it is a disastrously low value for the Lira and for people who have already been suffering since the greenback began rising in Q4 of 2019.
The inflation rate this year has led to skyrocketing prices increasing 400% according to Bloomberg’s calculations (based on the Central Administration of Statistics), and everything you might need from food to household items got way more expensive.
Meanwhile, Lebanon is still being administered by a caretaker government for over 6 months now as Lebanese leaders are continuously failing to form a new rescue government that the country urgently needs.
Our team works tirelessly to ensure Lebanese people have a reliable alternative to the politically-backed media outlets with their heavily-funded and dangerous propaganda machines. We've been detained, faced nonstop cyber attacks, censorship, attempted kidnapping, physical intimidation, and frivolous lawsuits draining our resources. Financial support from our readers keeps us fighting on your behalf. If you are financially able, please consider supporting The961's work. Support The961. Make a contribution now.