After reaching a record-breaking low value of 10,000 LBP on the black market, the Lebanese pound or Lira has settled trading around 9,925 LBP against the dollar.
At the time of writing, black market traders are selling the greenback for 9,950 LBP and buying it for 9,900 LBP.
On Tuesday, after the rate reached a jaw-dropping 10,000 LBP, the Lira rose slightly against the dollar and has remained relatively stable just touching the record-high rate.
The devastating and continuous devaluation of the Lira has been adding to the crises quaking the country.
Both the Prime Minister-designate Saad Hariri and the Lebanese President Michel Aoun are responsible for forming a rescue government but have been unable to agree on any for months now.
Regardless of that fact, Aoun has stated that he was striving to form a government, inviting the expats to invest in Lebanon in order to save its economy.
There are certainly more important steps to take at this point, internally, that would help bring Lebanon’s crashed economy back to life and reduce the extreme poverty and suffering of the country’s residents.
