Fluctuating, as usual, the Lebanese pound, or Lira, dropped slightly in value against the dollar on the black market on Wednesday.
Trading at around 8,825 LBP on the black market, the dollar was being sold for 8,850 LBP and bought for 8,800 LBP by black market dealers.
The Lira exchange rate is fluctuating daily. Yesterday the Lebanese pound recorded a slight rise shortly after it had dropped as protests erupted across the country.
Lebanon has been in the hands of a caretaker government for almost half a year, and talks between President Michel Aoun and PM-designate Saad Hariri have only been bitter with no progress at all.
While French President Emmanuel Macron’s keenness on reviving the French Initiative generates hope that a government will be formed this year, there is still high doubt.
The French initiative sees to implement other reforms that would rescue the country economically and socially.