Lebanese Lira Collapses Successively ... Fuel Price Hike Worsens

The exchange rate of the Lebanese lira witnessed rapid and successive collapses, as the exchange rate reached 109,000 liras against the dollar in the informal market, on the basis of which all commodities are priced except for vegetables and fruits, and services except for electricity and communications.

The exchange rate also collapsed on the official exchange platform, which today recorded an average of 80,200 Lebanese liras per dollar.

Yesterday, the exchange rate reached 100,000 liras per dollar in the unofficial market, which caused a great shock in the Lebanese street because of the collapse, which reached a record number that was not in the accounts to be reached after the exchange rate of the pound was 1,500 liras to the dollar about 3 years ago.

The collapse did not stop at the limit of 100,000 liras, but rather the collapse continued until it reached 109,000 liras per dollar this evening.

Fuel prices also set records high, after the price of a can of gasoline exceeded the barrier of 2 million Lebanese pounds in the pricing list. The price of a 95-octane canister increased in the evening, by 18,000 pounds to record 1.9 million pounds, and the price of the 98 gasoline also increased to record 2.1 million pounds.