On Wednesday, the Lebanese pound recorded a new record drop, falling below the 75,000 threshold against the dollar on the black market, which was reflected in rising fuel and food prices.
Lebanon has been experiencing an economic collapse since the summer of 2019, during which the lira lost almost 95 percent of its value against the dollar, and a new official rate of 15,000 against the dollar was adopted earlier this month. compared to 1507 lira before, and this coincides with an acute liquidity crisis and the suspension of banks. About giving depositors their money in dollars.
Black market exchangers and apps reported that the lira had crossed the 75,000 threshold against the dollar.
This was reflected in the rise in fuel prices, as the price of a canister of gasoline (20 liters) approached one million four hundred thousand pounds sterling, about 19 dollars.
The authorities have removed subsidies for fuel from 2021, as well as for basic goods such as flour and medicines.
Dozens of taxi drivers blocked the road in front of the Interior Ministry headquarters in Beirut due to high prices and to protest deteriorating living conditions, especially since the taxi fare is £100,000 (US$1.3).
The protracted economic crisis is considered the worst in the history of Lebanon.
Source: agencies
