Lebanese Pound Just Registered A Record Low Value

Mohamad Azakir

On Monday, the Lebanese pound dropped to its lowest value yet in Lebanon‘s worst-ever financial crisis in recent history.

In the evening, the Lira was trading for 9,725 LBP with black market traders selling the dollar for 9,750 LBP and buying it for 9,700 LBP.

This is the lowest value of the Lira on the black market since the beginning of the economic collapse in Lebanon.

The rate suddenly dropped around the same time Lebanon began its vaccination campaign.

Due to the devaluation of the local currency, prices of goods have skyrocketed and wages are worth a fraction of what they used to be.

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Lebanese Pound Just Registered A Record Low Value

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