Stores Across Lebanon Shuttered After U.S. Dollar Exceeded LBP 17,000

Stores Across Lebanon Shuttered After U.S. Dollar Exceeded 17,000

Stores across Lebanon closed on Saturday in reaction to the spike in the exchange rate of the U.S. dollar to the Lebanese pound.

In various areas from south to north, people closed their shops, citing losses incurred from the Lebanese pound‘s devaluation.

In Sidon, a large number of businesses shuttered their doors and hung signs that read such statements as “The dollar is 17,400. A sleeping people who don’t deserve life,” and “Behind every corruption is a sleeping people.”

As this happened and the Lebanese pound hit a new low of 18,000 against the dollar on Saturday afternoon, the familiar hashtag #Lebanon_Is_Collapsing topped the list of Twitter trends in Lebanon.

Concurrently, people across the governorates blocked main roads in protest of the worsening financial crisis and the declining quality of life amidst a lack of efficient policy on the government’s part.

Roads were blocked at Martyrs’ Square, Cola Bridge, Jandouline Roundabout, and Jamous Street in Beirut, among other streets in major cities such as Sidon, Tripoli, Nabatieh, Tyre, and others.

Protests are actively taking place in various Lebanese areas at the time of writing, amid attempts by security forces and Lebanese soldiers to clear roads and maintain security.