The price of the Lebanese pound dollar fell in the informal (black) parallel market by about 25 pounds today, Sunday.
Lebanon is living under the weight of debt accumulation, and is experiencing the worst crisis since the civil war that weakened the currency from 1975 to 1990 and caused a sharp rise in prices.
Lebanon has made no progress in talks to form a new government since the current government resigned last August following a massive explosion in the port of Beirut.
The cost of the port disaster
Lebanon needs more than $ 2.5 billion to overcome the aftermath of the devastating port of Beirut, the World Bank Group, the United Nations and the European Union announced last Friday, when the 18-month reform, recovery and reconstruction framework was launched.
The three donors held a press conference at the United Nations headquarters in Beirut, four months after the blast, estimating the value of the priority needs of the citizen-centered recovery path in that context at $ 584 million, of which $ 426 million in the first year.
He said: “In this context, the cost of developing reform and reconstruction is estimated at two billion dollars.”
The blast at the port on August 4 killed more than 200 people and injured more than 6,500. It severely damaged the port and several neighborhoods in the capital, and displaced tens of thousands of damaged or destroyed families.
The price of the dollar in the unofficial parallel market (black) recorded 8150 pounds to buy and 8200 pounds to sell, 8175 pounds to buy and 8225 pounds to sell, yesterday.
The Central Bank of Lebanon has set the dollar exchange rate at 1507.5 kilos, a price that only applies to imports of fuel, medicines and wheat.
Banks set a price of 3,850 pounds on the dollar when pulling dollars out of small depositors.
The Lebanese Monetary Union reaffirmed the price of the Lebanese pound dollar exchange rate with a maximum price move between 3850 pounds for purchase and 3900 pounds for sale.