The price of the dollar in Lebanon rose today, Wednesday, October 13, 2021, in the unofficial (black) parallel market transactions.
The price of the dollar in Lebanon
The price of the dollar in this market ranged today between 20,050 and 20,100 pounds per dollar, compared to 19,300 and 19,400 pounds per dollar, yesterday, Tuesday.
The Lebanese Energy Ministry restarted the country’s electricity grid after it collapsed the previous day and caused a complete blackout across the country.
The ministry said that the electricity supply returned to normal on Sunday, after a complete interruption the previous day when the two largest power stations in the country stopped due to lack of fuel.
The power outages have caused more suffering for the Lebanese who are grappling with job losses, rising prices and food shortages as a result of the country’s worsening financial collapse.
The Ministry of Energy said that it had obtained the approval of the Central Bank of Lebanon to obtain $100 million in tenders to import fuel to generate electricity, adding that the Electricity Network of Lebanon returned to work again at its same capacity before its complete suspension.
And on Saturday, the Zahrani and Deir Ammar stations were out of service due to a lack of fuel, which led to the complete suspension of the Lebanese electricity network.
The National News Agency quoted the Electricity of Lebanon Corporation as saying on Saturday that it had been agreed with the Lebanese Army Command that the Corporation would obtain 6,000 kiloliters of gas oil from the army’s stocks, to distribute it equally to the Zahrani and Deir Ammar stations.
A statement by the ministry stated that “the army (handed over) a total quantity of 6000 kiloliters of gasoil, divided equally between the Deir Ammar and Zahrani plants,” which allows providing electricity for a few hours a day. The price of the dollar in Lebanon today, Saturday, October 9, 2021
The price of the dollar in Lebanese banks
The 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.
Lebanon has been under the weight of a severe financial crisis since late 2019, and since then, the local currency has lost about 90% of its value, the poverty rate has increased, and the banking system has been paralyzed.
Since the country descended into a major financial crisis in 2019, the hard currency in Lebanon has evaporated, and those with US dollar accounts were only able to make withdrawals in Lebanese pounds, according to an exchange rate of 3900 pounds to the dollar.