Protests in Lebanon as Pound Hits New Low against Dollar

A protester blocks the main road with garbage bins as he takes part in a protest against the economic situation in the country, the high cost of living and the low purchasing power of the Lebanese pound, in Beirut, Lebanon, 21 March 2023. EPA/WAEL HAMZEH

Protesters closed down major roads in parts of Lebanon on Tuesday after the Lebanese pound briefly hit a new low amid a historic economic crisis that seemingly has no end in sight.

The Lebanese pound lost more than 15% of its value on Tuesday alone, tanking to more than 140,000 pounds to the dollar. A week ago, the dollar was worth 100,000 pounds.