Lebanese pound falls, hits 13,000 to dollar

BEIRUT: The Lebanese pound fell against the dollar Thursday, trading at LL13,000 on the black market, exchange dealers said.

The dealers said they were buying the greenback for LL12,950 and selling it for LL13,050, compared to an average of LL12,750 Wednesday.

They said the market was in a wait-and-see mode as clients and speculators were watching the outcome of renewed efforts to end the political impasse that has blocked the formation of a new government whose mission would be to implement economic and financial reforms and agree on a bailout package with the International Monetary Fund.