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As of Sunday, black market merchants in Lebanon are promoting the US Greenback for 20,700 LBP and shopping for it for 20,750 LBP.
The present official fee nonetheless stands at $1 = 1,500 L.L. and the financial institution fee at $1 = 8,000 L.L.
Lebanon is at present experiencing hyperinflation on account of an ongoing financial disaster because the finish of 2019. The Lebanese lira has been drastically falling towards the beforehand fastened US greenback fee of $1 = 1,500 L.L.
This has precipitated banks to create an unofficial capital management – principally freezing accounts and solely releasing a restricted quantity of {dollars} utilizing the $1 = 8,000 L.L. That is known as the “financial institution fee.”
The Lebanese lira has misplaced greater than 90 p.c of its worth.
Judicial entities have banned websites reporting the black market and parallel fee believing they had been chargeable for the inflation. There was no change within the alternate fee following the ban. The961 was blocked for 9 hours following the execution of this ban for our protection – regardless of there being no particular order to ban us.
Discover the most recent information and updates encompass the Lebanese lira on our devoted part by clicking right here .
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