The Lebanese lira dropped against the dollar on the black market once again as eerie silence surrounds the long-overdue government formation process.
Black market traders are selling the dollar for 12,450 LBP and buying it for 12,400 LBP. This comes after a week or so of the exchange rate remaining somewhat stable.
The drop comes after Saudi Arabia banned the import of produce from Lebanon following a massive bust of narcotics stashed in pomegranates.
A year ago, the Lebanese pound was trading at around 4,000 LBP. This year, after many crises, Lebanon’s currency hit its lowest point of around 15,000 LBP.
