Search
Search

ECONOMIC CRISIS

Roads cut in Tripoli after record depreciation of the lira

Roads cut in Tripoli after record depreciation of the lira

Al-Nour Square in Tripoli. (Credit: Michel Halak/L'Orient Today)

Here’s what we know:

    • Demonstrators on Wednesday morning blocked several roads in the city of Tripoli to protest against the depreciation of the local currency, which reached a record low yesterday.

    • According to our correspondent in the region, Souhayb Jawhar, traffic was blocked at the Salam and Abou Ali roundabouts. Access to al-Nour Square was also blocked by protesters.

    • On Tuesday, the local currency experienced an unprecedented depreciation, approaching LL29,000 to the US dollar against the backdrop of economic and financial collapse in the country, while its official exchange rate remains fixed at LL1,507.5. On Wednesday morning, its value appreciated a bit, with the pound trading at around 26,900 per greenback.

    • The inhabitants of Tripoli, the poorest city in Lebanon, regularly demonstrate in the streets to denounce the deterioration of their living conditions and the considerable reduction of their purchasing power. 

Here’s what we know:     • Demonstrators on Wednesday morning blocked several roads in the city of Tripoli to protest against the depreciation of the local currency, which reached a record low yesterday.    • According to our correspondent in the region, Souhayb Jawhar, traffic was blocked at the Salam and Abou Ali roundabouts. Access to al-Nour Square was also blocked by protesters.    • On Tuesday, the local currency experienced an unprecedented depreciation, approaching LL29,000 to the US dollar against the backdrop of economic and financial collapse in the country, while its official exchange rate remains fixed at LL1,507.5. On Wednesday morning, its value appreciated a bit, with the pound trading at around 26,900 per greenback.    • The inhabitants of Tripoli, the poorest city in...