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Lebanese pound down again on black market

by May 21, 2021Arab Economy0 comments

BEIRUT: The Lebanese pound fell again against the dollar Thursday, trading at LL12,900 on the black market.

Exchange dealers were selling the dollar for LL12,950 and buying it for LL12,850, down from Wednesday’s average of LL12,700.

The local currency has lost some 85 percent of its value over the past 18 months amid an acute political, economic and financial crisis that has threatened to destabilize the country.

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