Lebanese pound falls to all-time low on black market as people protest

Lebanon's harrowing economic crisis worsened when the pound fell against the dollar again on the black market.
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A demonstrator wearing a Lebanese flag mask makes a fist as she stands next to flaming tires cutting off a road in the center of Lebanon's capital, Beirut, late on March 2, 2021, during a protest against deteriorating economic and social conditions. The Lebanese pound at one point during the day hit an all-time low of 10,000 pounds to the dollar on the black market. - ANWAR AMRO/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The Lebanese pound has again fallen to an all-time low on the black market as the economic crisis continues.

The exchange rate reached 10,000 Lebanese pounds to the US dollar on the black market at one point Tuesday, Reuters reported. The official exchange rate was around 1,520 pounds to the dollar. On Feb. 25, the pound was trading around 9,475 to the dollar on the black market.

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