Protests Continue, Shops Close as Lira Hits Record Lows

Road-blocking protests continued Saturday in Lebanon and several shops closed in the northern city of Tripoli as the Lebanese lira plummeted to unprecedented lows.

Around noon Saturday, the dollar was selling for LBP 17,600 on the black market, a rate not seen in Lebanon's modern history nor since the eruption of the country's financial crisis in 2019.

In Tripoli, several shop owners closed their businesses in protest the economic situations and the surge in the dollar exchange rate, citing the daily losses they incurring as a result of the sharp decline in the value of the national currency.

Many shops also closed in the southern city of Sidon, with owners decrying the "crazy" rise in the dollar exchange rate.

Several roads were meanwhile blocked in the country's north and south in protest at the dire situations.