Lebanese currency drops to record low
Arab News says The Lebanese pound on Tuesday crossed the symbolic threshold of 30,000 to the dollar on the black market in a new record low, according to websites monitoring the exchange rate.
The pound now trades at 20 times the official peg value of 1,500 pounds to the greenback, with no end in sight to the economic and political crisis plunging ever growing numbers into poverty.
The currency has lost more than 95 percent of its value on the black market in the past two years.
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