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The Lebanese lira hits LL52,000 on the dollar

The Lebanese lira hits LL52,000 on the dollar

A money changer in Beirut in September 2022. (Credit: Anwar Amro/AFP)

BEIRUT — The Lebanese lira continued its tumble on the parallel market Monday, exceeding LL52,000 against the US dollar, according to several mobile tracking applications.

According to the Lirarate.org platform, the dollar was trading at LL52,000 to buy and at LL49,800 to sell as of 4 p.m.

The gap between the parallel market rate and that of the Sayrafa platform (LL38,000 since last week), designed by the Banque du Liban to try to stabilize the exchange rate, now stands at LL14,000.

Lebanon's national currency has lost more than 97 percent of its value in the last three years of unprecedented economic crisis. Lebanese authorities continue to stall the adoption of the necessary reforms to curb the country's economic and financial collapse.

BEIRUT — The Lebanese lira continued its tumble on the parallel market Monday, exceeding LL52,000 against the US dollar, according to several mobile tracking applications.According to the Lirarate.org platform, the dollar was trading at LL52,000 to buy and at LL49,800 to sell as of 4 p.m.The gap between the parallel market rate and that of the Sayrafa platform (LL38,000 since last week),...