The USD to Lebanese Lira exchange rate just dropped in the black market to LBP 31,000 after it had initially reached today LBP 38,000.
Black market traders in Lebanon are buying the US Dollar for LBP 31,000 and selling it for LBP 30,900.
The Governor of the Central Bank Riad Salameh has contributed to the hike in the rates by controlling the cash flow in the alternative/black market.
The ups and downs in the exchange rates are expected to continue as there is no reform program set in action yet, whereas the Association of Banks in Lebanon has rejected the government’s financial plans.
