The Lebanese lira dropped today, Wednesday, trading at 31,200 LBP per 1 U.S. Dollar.
The decrease in the Lebanese pound’s value comes only two days after the 2022 Elections concluded on May 15th when the Lebanese people elected new and old MPs for the coming 4 years.
Just last week, financial experts voiced concerns regarding the Lebanese currency and its free-fall after the parliamentary elections.
The sources told a local newspaper that Lebanon’s Central Bank is intervening to prevent higher inflation rates, to not affect the voting process or the voter’s choice.
Adding that the “uncontrolled” surge might cause nationwide protests if necessary reforms are not initiated by the government and the newly-elected parliament regarding the monetary and banking sector.
Currently, the Lebanese people are waiting for the new MPs to politically line up in the parliament and start working to tackle the economic crisis, one of the worse since the 1850s.
