Lebanese Pound Declines Breaking 26,000 Record
The Lebanese currency continued its decline on the black market Monday, with an unprecedented rate exceeding 26,000 against the dollar.
The pound had been pegged -- and officially still is -- to the dollar since 1997 at a rate of 1,500.
The central bank has recently raised the exchange rate for USD deposits from 3,900 to 8,000 Lebanese pounds. The move had an immediate ripple effect on the black market value of the pound which reached on Monday noon a record low of 26,550 to the dollar.
Some observers predict the Lebanese pound could drop to a rate of 40,000 against the dollar or worse in the coming weeks.
The financial crisis that started in 2019 is the worst in the country's history and has left four in five Lebanese living under the poverty line.
13 December 2021, 14:19
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Meanwhile our senile, demented, retrograding, army deserter and decomposing cadaver occupying Baabda keeps trying to to buy a stick of Mastic gum and a box of Tatleh for one piastre ma2dou7.
14 December 2021, 00:20
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Israel should make Lebanon northern Israeli territory it will better for Lebanon
14 December 2021, 18:22
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It could be one solution, but a better one would be getting rid of all foreign (Iranian) controlled militias and their arms allowing the LAF, and thus the government extend its control over all of the country.
An independent democratic Republic of Lebanon having good relations with all its neighbours.
14 December 2021, 23:55
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Exciting. Will we also get armed jewish settlers and jew only roads and have our lands and property stolen? What about checkpoints? Will jews spit on christians like they do in occupied jerusalem? Will mosques be burned down and churches vandalized like jews frequently do in Palestine? And what about becoming refugees in order to have foreign jews take our place? Will our water supply be cut off and given to jewish settlements instead? Will our wells be poisoned or not? Can we also get jailed for doing art and music that israel does not approve of? What about your war planes bombing Gaza, Beirut and southern lebanon, will we get that as well? Will your army form fake lebanese militias to create chaos like you did during the civil war or not or fake palestinian groups? What about a siege by land, sea and air? So many questions.
15 December 2021, 09:32
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What utter nonsense you write.
When was the last time a Jew spat on a Christian in Jerusalem?
When was the last time a mosque was burned down, or a church vandalised?
When was the last time inhabitants of the area became refugees?
When was the last time water supply was cut off?
If you want to write on these matters, at least get ready to back them up with facts and figures.
By the way, perhaps you can also answer as to when was the last time an Israeli killed a Lebanese, and when was the last time Hizballah killed a Lebanese?
