The price of the dollar fell today in Lebanon once morest the pound during trading on the morning of Friday, August 26, 2022, in the unofficial (black) parallel market.
The price of the dollar today in Lebanon
The price of the dollar fell today in Lebanon in the unofficial (black) parallel market, reaching 33,350 – 34,000 Lebanese pounds per dollar, according to the “lebanon24” platform to monitor dollar price movements in the parallel Lebanese market around the clock.
And the dollar exchange rate closed in the parallel market yesterday evening, Thursday, recording a price ranging between 34,000 – 34,100 Lebanese pounds per US dollar.
And the Banque du Liban announced in a statement, “The trading volume on the Sayrafa platform, on Thursday, August 25, 2022, amounted to 26 million dollars, at a rate of 27,200 Lebanese pounds per dollar, according to the exchange rates of operations carried out by banks and exchange institutions on the platform.”
Gasoline crisis in Lebanon
The representative of fuel distributors, Fadi Abu Shakra, said, “We rejected the strike decision demanded by some companies that do not deliver fuel to the stations, and we demand that the pricing schedule be issued early.”
Abu Shakra added in press statements, “We will not remain silent, and there is pain at the stations and distributors, and at the present time there is no gasoline crisis, but there is a shortage, and we are working to solve the issue, and the Ministry of Energy must intervene for treatment, and we are all in one trench,” according to “MTV”. .
The International Monetary Fund reached an initial agreement with Lebanon on a $3 billion aid plan.
In a press release, the IMF announced that it had reached a staff-level agreement on economic policies with Lebanon to facilitate a four-year financing period.
According to the statement, the Lebanese authorities, with the support of IMF experts, formulated a comprehensive economic reform program aimed at rebuilding the economy, restoring financial sustainability, enhancing governance and transparency, removing obstacles to job growth, increasing social spending and reconstruction.
Lebanon is living in economic, financial and living crises for the third year in a row, and the exchange rate of the Lebanese pound continues to collapse and with it the collapse of the purchasing power of the Lebanese people, and consequently the rate of poverty and extreme poverty increases significantly, in addition to the decline in basic life services for citizens such as electricity and water, accompanied by high fuel prices. and prices of all goods.
It is noteworthy that the funds of the Lebanese are held in banks and their salaries have lost more than 90% of their value, but the bright side is that the tourism sector in Lebanon witnessed a kind of prosperity following regarding 1.5 million visitors from expatriates and tourists, mostly from Iraq, Egypt and Jordan, came to Lebanon. To contribute to the introduction of nearly four billion dollars of hard currency into Lebanon.
To get out of these crises, the Lebanese government has prepared a recovery plan that includes many reforms, such as prior measures imposed by the International Monetary Fund in order to conclude an agreement between it and the state, and the most important of these measures: the Capital Control Law, the amendment of the banking secrecy law that was recently approved in Parliament, the restructuring of the sector Banking, approving the budget, and unifying the exchange rate.