Lebanese Pound Starts February With Slight Rise After Record Low

The Lebanese pound, the lira, kickstarted the month of February with a slight rise from its previous exchange rate against the dollar.

The lira was trading at 8,800 LBP on the black market. Black market traders were selling the dollar for 8,825 LBP and buying it for 8,775 LBP.

The rise comes after French President Emmanuel Macron asserted his keenness to revive the French initiative Lebanon.

Macron has recently announced that he will be visiting Lebanon soon to restart the government formation talks and it is expected that his visit this time will be more effective than his previous ones.

With the new month came another piece of good news about the health situation in Lebanon.

According to the head of the Rafik Hariri University Hospital (RHUH), Dr. Firass Abiad, Lebanon’s total lockdown restrictions have been successful in regaining some control over the coronavirus situation.

Lebanon expects to begin inoculations very soon. Until then, the country could begin reopening slowly and gradually with preventive measures in place.

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