The Lebanese Lira Is Back Up After A Two-Day Dip

Bloomberg

The Lebanese lira is slightly back up against the dollar after dropping for two days in a row earlier this week.

Black market traders were selling the dollar for 12,275 LBP and buying it for 12,225 LBP on Thursday. Just yesterday, the Lira exchange rate was around 12,650 LBP as it dropped for the second day in a row.

The lira’s rise coincides with Prime Minister-designate Saad Hariri‘s return to , where he intends to revive efforts for the long-overdue government formation.

In addition, hopes are pinned on the Lebanese Central Bank’s ‘Sayrafa‘ electronic platform to regulate the exchange rates. The app is set to launch next week.


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