Lebanese Pound Fluctuates With Hariri’s Return

TDS/Mohammad Azakir

With Prime Minister-designate Saad Hariri back in , the Lebanese pound, or Lira, began fluctuating against the dollar, which is nothing new.

On Friday morning, exchange dealers sold the dollar for 8,900 LBP and bought it for 8,800 LBP – a noticeable drop of the Lira compared to the day before.

However, in the afternoon, the Lira rose back trading at 8,775 LBP on the black market with exchange dealers selling the dollar for around 8,800 and buying it for 8,750 LBP.

These fluctuations are nothing new to and somehow mirror the fluctuations the government formation.

After meeting French President Emmanuel Macron in this week, Hariri returned to and met with Lebanese President Michel Aoun and attempt to relaunch the government formation process.

However, after meeting with Aoun at Baabda Palace, Hariri stated that there were no developments in the process of forming the government, as the two cannot see eye to eye on the Cabinet formation.

has been without a government since shortly after the August 4 Beirut Port explosion and citizens have been left to fend for themselves during the country’s worst .


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