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Asharq Al-Awsat

Business

Beirut - Asharq Al-Awsat

Lebanon’s Pound Sinks to Historic Low at 40,000 against US Dollar

United States Lebanon

Lebanese and US currencies at a money exchange shop in Beirut, Lebanon (Reuters)

The Lebanese pound has sunk to a historic low against the US dollar, trading at LBP 40,000 to the dollar on the parallel market. Lebanon’s cost of living index has also recorded a staggering hike of more than 272% in three years.

Money changers on the black market traded the dollar for LBP 40,100 after maintaining the trade rate between LBP37,000-LBP39,000 for the dollar for around two weeks.

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