The Lebanese Lira Hit Its Lowest Value Against The Dollar

AP

The Lebanese Lira hits its lowest market value against the dollar, as Lebanon plunges further into financial and political turmoil exactly three years after its economy collapsed.

The national currency sank further as the country, led by a caretaker government, heads into presidential elections next Thursday with a divided parliament that has repeatedly failed to reach a consensus on a new leader.

The Lebanese Lira market value fell to over 40,000 to the USD after it had stabilized at around 38,000 for weeks.

The Lebanese Lira has been officially pegged at 1,507 to the dollar since 1997, however the Lebanese minister of finance Youssef Khalil had said that the official Lebanese Lira rate will be increased from 1,507 LL to 15,000 LL as of the end of October 2022.

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The Lebanese Lira Hit Its Lowest Value Against The Dollar

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