The Lebanese pound fell to a low of $30,000 per U.S. dollar during the crisis

Since the beginning of the economic collapse at the end of 2019, Lebanon’s currency has hit a record low, and its value on the black market has reached 20 times its value, and may plunge more people into poverty


Beirut-Since the beginning of the economic collapse at the end of 2019, Lebanon’s currency hit a new low on Tuesday, reaching 20 times its value on the black market, and may plunge more people into poverty.


As the economic crisis continues and no solution is expected in the near future, the price of the pound sterling on the black market is 30,000 to $1.

Lebanon’s currency was pegged to the U.S. dollar for 22 years, and decades of corruption and mismanagement led to the country’s worst economic crisis in modern history starting in October 2019.


The World Bank described Lebanon’s economic collapse as one of the worst economic collapses in the world since the 1850s.

According to United Nations data, more than three-quarters of Lebanese live in poverty.


Prime Minister Najib Mikati said last month that he expected to reach a draft agreement with the International Monetary Fund by the end of February.

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