A man holds bundles of Lebanese lira banknotes in an exchange shop in Beirut. (Credit: Joseph Eid/AFP)
BEIRUT — The Lebanese lira on Thursday evening continued its latest plummet in value, again tumbling to LL90,000 to the US dollar on the parallel market.
The lira reached a record low in February when it traded at more than LL90,000 to the dollar, before it suddenly regaining some value following a series of measures announced by Banque du Liban. The national currency has been relatively stable for the past week.
According to the website lirarate.org, which monitors the parallel market exchange rate, the dollar was buying at LL90,000 and selling at LL88,500 at 5 p.m. Thursday. The lira had been gradually depreciating since Thursday morning before it hit LL90,000 in the evening.
The lira's latest fall follows a decision by the Association of Banks in Lebanon to resume their open-ended strike on Tuesday.