Today, Tuesday, September 28, 2021, the price of the dollar in Lebanon decreased significantly in the unofficial (black) parallel market.
The price of the dollar ranged between 16270 and 16320 pounds per dollar.
Lebanon is wracked by an economic collapse described by the World Bank as one of the most difficult recessions in modern history. Three-quarters of its population has plunged into poverty and its currency has lost 90% of its value in the past two years.
The financial system collapsed in 2019 due to decades of state corruption and waste and the unsustainable way in which it was being financed. The trigger was a slowdown in hard currency inflows into the banking system, which overlented the government.
The Lebanese government, headed by Najib Mikati, is seeking the support of the International Monetary Fund, in less than 8 months before the start of the elections.
French President Emmanuel Macron urged Beirut to implement urgent reform measures and move forward with IMF talks, stressing that France will continue to support Lebanon.
Reforms, especially in the financial and banking sectors, are a precondition that must be met for the resumption of IMF talks and the consequent liberalization of foreign aid.
The price of the dollar in Lebanese banks
Lebanese banks set the price of 3850 pounds to the dollar, when withdrawing the dollar to small depositors, and this has been going on for a while, and it has been in effect until today.
The price of the dollar today in Lebanon at the money changers
On the other hand, the Syndicate of Money Changers in Lebanon confirmed the pricing of the dollar exchange rate against the Lebanese pound, with a moving margin between the price of 3850 pounds for purchase, and 3900 pounds for sale, as a maximum.
Central Bank of Lebanon
The exchange rate of the dollar in the Central Bank of Lebanon remained at 1507.5 pounds per dollar, and it is allocated to some basic commodities only.