Lebanese lira hits a record low amid a worsening economic situation

Published by
DPA

The Lebanese lira hit a record low against the dollar on the black market on Tuesday amid a worsening economic and political situation in the country. The Lebanese lira was trading at 28,000 against the dollar on the black market for the first time since 2019, when demonstrators took to the streets to protest against a corrupt ruling class. Lebanon is suffering one of the world’s worst economic crises in more than 150 years, according to the World Bank. The national currency has now lost about 95 per cent of its former value. Analysts expect the lira to fall further in the next few days. Accor…

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ABOUT us
Welcome to Lebanon News Gazette, your window into the captivating world of Lebanese news and beyond. We are here to deliver timely, accurate, and captivating coverage that keeps you informed and engaged.