On Wednesday, black market traders were selling the dollar for 12,700 LBP and buying it for 12,600 LBP. Yesterday, it was trading for around 12,425 LBP.
This drop comes after the exchange rate remained stable, fluctuating around 12,000 LBP and slightly above. It recorded no major changes in the last two weeks.
Last month, the Lebanese lira hit a record low value with 1 USD amounting to 15,000 LBP. This time last year, the lira was trading for around 4,000 LBP.
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.