The value of the dollar shot up today exceeding 11,000 LBP on the black market for the first time in Lebanon’s history.
Black market traders are selling the dollar for 11,075 LBP and buying it for 11,025 LBP.
This jumped just from this morning when they sold the dollar for 10,800 LBP and bought it for 10,700 LBP.
The dollar was selling for the then-record-breaking value of 10,000 LBP just over a week ago.
With no immediate action taken by the government, the value of the national currency only continues to drop.
Despite the authorities cracking down on exchange shops and blocking websites showing the exchange rate days ago, the value of the Lebanese Lira continued to drop.
People have taken to the streets to protest the dire living conditions. Large crowds are marching in the streets in several areas in Beirut; some in front of Lebanon’s Central Bank, others at the interior ministry, and at the economy ministry.
