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ECONOMIC CRISIS

Another new record low for the Lebanese lira as it hits LL48,000 to the dollar

Another new record low for the Lebanese lira as it hits LL48,000 to the dollar

Dollar and lira bills. (Credit: AFP archive photo)

BEIRUT — The Lebanese lira on Thursday continued its tumble on the parallel market, trading around LL48,000 to the US dollar in the evening, according to several mobile tracking applications.

According to the Lirarate platform, by 6:30 p.m. the dollar was trading at LL48,000 to buy and at LL47,800 to sell.

The gap between this rate and that of the Sayrafa platform (LL38,000 since last Thursday), designed by the Banque du Liban to try to stabilize the exchange rate, now stands at LL10,000.

The national currency has lost more than 96 percent of its value over three years of unprecedented economic crisis in Lebanon. Lebanese authorities meanwhile continue to stall on the adoption reforms necessary to curb the country's economic and financial collapse.


BEIRUT — The Lebanese lira on Thursday continued its tumble on the parallel market, trading around LL48,000 to the US dollar in the evening, according to several mobile tracking applications.According to the Lirarate platform, by 6:30 p.m. the dollar was trading at LL48,000 to buy and at LL47,800 to sell.The gap between this rate and that of the Sayrafa platform (LL38,000 since last Thursday),...