Lebanese Pound Stable Pending New Lockdown Decision

The Lebanese pound has maintained a stable exchange rate against the greenback for the past three days ahead of a new decision regarding the lockdown.

On Friday noon, the Lebanese pound, or Lira, traded at 8,825 LBP on the black market with traders selling the dollar for 8,850 LBP and buying it for 8,800 LBP.

The stable rate comes in contrast with the fluctuation the pound experience earlier this week. The Lira recorded a slight rise at the beginning of this month then quickly against the dollar.

At the moment, the full lockdown is set to end in the coming days. However, Lebanon’s health experts want to extend the lockdown and full 24-hour curfew for at least another week to be on the safe side.

The ministerial committee on COVID-19 is set to meet this afternoon and make a decision regarding whether to reopen the country or extend the lockdown.

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