Lebanese Pound Drops To New Lows On The Black Market

TDS/Mohamad Azakir

The Lebanese pound, or Lira, has dropped to its record low value of 10,800 LBP against the dollar on the black market.

On Friday, black market traders were selling the dollar for 10,800 LBP and buying it for 10,700 LBP. The Lira exchange rate has continued to drop all week.

Action taken by the government to crack down on currency manipulators has not resulted in any positive or successful change.

The quickly dwindling rate has led to public unrest and protests across the country.

The price of bread has increased, again, while unfathomable enough, some imported goods are cheaper than subsidized goods.

In addition, and perhaps most concerning, Lebanon is being threatened with total darkness by the end of March.

The economic meltdown is sparing no one, not even the Lebanese army nor security forces.

Lebanese political activist Sara El-Yafi accurately described Lebanon’s financial situation on France 24. Her video continues to go viral…