Lebanese Pound Rises As Lebanon Launches Inoculation Drive

Mohamad Azakir/The Daily Star | @FeridBelhaj

Fluctuating with persistence, the Lebanese pound rose against the dollar on Monday trading at 8,850 LBP on the black market.

On Monday afternoon, black market exchangers sold the dollar for 8,875 LBP as opposed to Sunday’s rate of 8,925 LBP. They bought the dollar for 8,825 LBP.

The rise comes after Lebanon kickstarted vaccinations on Sunday after receiving its first shipment of COVID-19 vaccines on Saturday.

Sunday also marked the 16th year since the assassination of former Prime Minister Rafik Hariri, the late father of PM-designate Saad Hariri.

The Lira has been fluctuating heavily since Hariri’s return to Lebanon and amid his strive to reignite Cabinet formation talks with President Michel Aoun.

Until now, the path to Cabinet formation of 18 nonpartisan specialists capable to make reforms in line with the French initiative to rescue Lebanon has been turbulent.