The price of the dollar rose today in Lebanon during early trading on the morning of Sunday, September 11, 2022, in black market transactions.
The price of the dollar today in Lebanon
And the price of the dollar increased today in Lebanon in the unofficial (black) parallel market to 35,300 pounds for purchase and 35,350 pounds for sale, compared to 35,250 pounds for purchase and 35,300 pounds for sale, yesterday.
And last Friday, the Banque du Liban announced that “the trading volume on the Sayrafa platform amounted to 42 million US dollars, at a rate of 28,200 Lebanese pounds per dollar, according to the exchange rates of operations carried out by banks and exchange institutions on the platform.”
In the wake of the economic crisis that the World Bank has ranked among the worst in the world since 1850, the local currency has lost more than ninety percent of its value once morest the dollar, and more than 80 percent of the Lebanese are below the poverty line.
Also last Friday, the US mediator in talks to resolve the maritime border dispute between Israel and Lebanon said that the negotiations had made “very good progress”, but that more work was needed to reach a final agreement.
The two countries are engaged in US-brokered negotiations to delineate a common maritime boundary, which would help identify each aspect of oil and gas resources and pave the way for further exploration.
Amos Hochstein arrived in Lebanon for a sneak peek with senior officials, including the president, prime minister, parliament speaker and deputy, as well as security officials.
“I think we are making very good progress,” he said following meeting President Michel Aoun, Parliament Vice President Elias Bou Saab and Director General of Public Security Abbas Ibrahim.
But he said later, before leaving Beirut airport, “I am very hopeful, but more work needs to be done.”
Hochstein’s last visit to Beirut was in late July for meetings with Lebanese officials. After that visit, he said, “I look forward to being able to return to the region to make the final arrangement.”
At the time, a senior Israeli official told Archyde.com that the government would present a new Israeli proposal that “contains a solution that would allow the Lebanese to develop gas reserves in the disputed area while preserving Israel’s commercial rights.”
A Lebanese official also clarified at the time that the proposal would allow Lebanon to drill in the entire Qana area, an area that might contain hydrocarbons and go beyond Line 23.
Line 23 is the maritime line that Lebanon initially set during the negotiations to represent its borders, before increasing its demands to a line further south.
The exploration rights south of Line 23 would represent a concession from Israel.
